Legal Advice on Bitcoin Projects

[startuplegally]

Hi Guys,

If a Bitcoin project of yours deals with customers Bitcoin, how can you protect yourself/company from any legal / money-transmitting / licence repercussions?

Is it best practice to register everything as anonymously as possible, and base the company in a 'friendly' country etc?

Thanks

[1714112589]

1714112589

[AgentofCoin]

Hi Guys,

If a Bitcoin project of yours deals with customers Bitcoin, how can you protect yourself/company from any legal / money-transmitting / licence repercussions?

Is it best practice to register everything as anonymously as possible, and base the company in a 'friendly' country etc?

Thanks

You need to be more specific with your questions.
We don't need personal info and details, just what you are planning on doing.

Money transmission has to do when you are facilitating buy/sells with crypto-currencies and government currencies.
Certain countries do not consider crypto-currencies to be money, while others do and have specific laws on the books.

If you are creating a serious legal company that deals with btc in some way other than just taking as payment,
then you will need to be properly advised by a lawyer in the jurisdiction that you wish to do business.

[Hazir]

Op, your question is too vague to be answered corectly. Some more information need to be given. Mainly:

1. Where are you located - laws regarding bitcoin could be very different in different places. Some countries banned bitcoin and others are supporting it.
2. What type of business you want to conduct? It will be fully legal company or you want to create a new Casino or something? Which can be problematic in some countries.

[BunkerChain.Labs.Inc.]

The best way to protect yourself is to research as much as possible based on where you live.

[ajaxmoor]

Like others said it all depends on what country you are located in. And as for basing the company in another country it would make no difference if its operating in a different country, as the laws are determined by which company you will be located in.

[boboyboi]

in every country their is also different outlook about bitcoin. it  depend in which country you are located. you can also refer a law firm that specializes in the taxation and regulation of virtual currency.