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Collectorcoin
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November 06, 2017, 03:00:44 PM
 #201

Dear BTC/Crypto Legal Forum:

As an experienced BTC attorney I'm happy to answer all questions here.

I have noticed some misinformation in some answers here. When it comes to taxes, laws and regulations, guessing or opinions are not helpful and can easily lead to problems. Most solutions to all the questions here can be summed up in a few short answers.

I can only give legal advice to laws in the United States but can discuss other countries in general terms. I've been involved as an attorney and a miner in BTC and Crypto's for 3 years. During that time I have represented many client's involved in our crypto world. Happy Mining!

George D. Greenberg, Esq.
AttorneyBitcoin
Las Vegas, Nevada, U.S.A.
www.attorneybitcoin.com


Hey! This is a very useful thread. Thank you for offering your services up like this. It really helps and shows faith in the community.

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November 09, 2017, 07:06:58 AM
 #202

You are welcome. Thank you for the kind comment.

George D. Greenberg, Esq.
www.attorneybitcoin.com
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November 09, 2017, 07:08:59 AM
 #203

Hello Kind sir. First of all I would like to thank you for taking your time to answer our questions on this forum.

I'm currently a NON-US Resident with family members being US Residents. A few years back we registered an LLC with the intention of exporting products to other countries but it never came to reality.

Present day Im putting up a project of investment with a few friends and family members and we want to start a very small BTC mining operation (around 6-10 machines). I am in charge of all the tech part of the project. But also have a few concerns regard its legal implications. We want to do things right from day 1.

First we were thinking of starting small mining at home. So questions comes to mind. If I start mining and im not a US resident should i declare taxes? is there a link or any info you can point me to so i can inform me a little better? The hardware would be @ my mothers house and she IS a us resident. So were a little bit confused here. Since im only going to be here for a few months but the hardware will be left ON up and running.

So, what would you advice? we were thinking of registering a company in which my resident family members can be in front and on that order I think we will have to pay our taxes regarding gain and losses for the company's mining. Is this the best option?

Thank you in advance for your kind attention on this matter.

Best regards,

Angel E. Gimenez.

Please reply to me privately at GDGreenberg@aol.com
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November 14, 2017, 05:13:45 PM
 #204

Hi,
I have a question regarding money laundering.

If I have many BTC and I decided to sell it and when I transfer that BTC to fiat, might I get charged as money laundering felony by any government?

Thanks in advance.

AttorneyBitcoin
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November 15, 2017, 06:36:36 AM
 #205

I can only speak as to the Unitied States. If your BTC comes from a legitimate source, and once sell for fiat you declare the fiat as income and pay your taxes on it, you won't have problems. You should be aware however that the larger the transactions are, the more red flags come up. I suggest making smaller transactions, differing amounts at different times.

Anyone who read about the depression in the 1930's understands that a "run on the bank" can leave the bank short as they have money invested. A bank, or a crypto exchange for that matter, is supposed to have enough funds or coins on hand to honor demands for withdrawal. If they do not it does not necessarily mean there is any fraud. I believe the legitimate exchanges can become overwhelmed or caught "in-between" and this could cause a delay. These are some of the reasons I suggest not making large demands all at once. Spread it out over time and vary the amounts.

Best:

George D. Greenberg, Esq.

www.attorneybitcoin.com 
DarthToon
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November 16, 2017, 12:55:50 PM
 #206

I can only speak as to the Unitied States. If your BTC comes from a legitimate source, and once sell for fiat you declare the fiat as income and pay your taxes on it, you won't have problems. You should be aware however that the larger the transactions are, the more red flags come up. I suggest making smaller transactions, differing amounts at different times.

Anyone who read about the depression in the 1930's understands that a "run on the bank" can leave the bank short as they have money invested. A bank, or a crypto exchange for that matter, is supposed to have enough funds or coins on hand to honor demands for withdrawal. If they do not it does not necessarily mean there is any fraud. I believe the legitimate exchanges can become overwhelmed or caught "in-between" and this could cause a delay. These are some of the reasons I suggest not making large demands all at once. Spread it out over time and vary the amounts.

Best:

George D. Greenberg, Esq.

www.attorneybitcoin.com 
Thank you!!!

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November 17, 2017, 01:21:16 AM
 #207

Hello BA,

Thanks for giving us this opportunity to ask an expert in this field. Your knowledge and commitment to educating many is doing a great service for the crypto currency community.

I'm extremely angry that the US government can all of a sudden declare BTC as a form of security and in doing so is trying to scare people into thinking this is true. My understanding is that a BTC transaction is a peer to peer event where 2 parties agree to sell or buy it at a specific price. It is not a business and has no CEO or Board of Directors. How can they and why do they have the power to threaten us if we don't pay taxes on our gains??

Also, I've read many places that if you use Tether or other related tokens and buy Tether with BTC to park you funds it is not considered a liquidation transaction and is not considered to be capital gains...is this correct??

Thank you for your time sir

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December 12, 2017, 04:39:24 AM
 #208

All,
    I am from Canada and have questions. Will be appreciated if you clear it to me. Thanks in advance.


1- I wana buy 2 bitcoins. Which is more reasonable, trust-able, less fee and fast website working exchange here in Canada ? Quadriga CX , EzBTC or Einstein Exchange ? 

2- If I buy Bitcoins and send to my wallet or my friend wallet (In or out of country) will be an issue with Tax authorities or Government ? 

Your feed back will be highly appreciable. Thanks
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December 13, 2017, 06:40:30 AM
 #209

Hello Sir,

Thank you for giving us a forum to ask questions. I really appreciate you taking the time to write responses. Do you know of any Bitcoin attorneys that you trust in the Los Angeles or southern california region?? Or do you offer services to clients outside of Nevada via Skype and email?

Thanks for your time

AttorneyBitcoin
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December 15, 2017, 06:46:06 AM
 #210

Hello George.

I would like to understand if i can take Poloniex to court for withholding my funds without any explanations? My account was frozen for no apparent reason and it's already a week since there was no response to my case. i've already expressed my desire in ticket log to cooperate fully to clear any doubts however not getting any replies.

Yes you can. But you would be well advised to hire an attorney to send them a demand letter.

Best:

George D. Greenberg, Esq

www.attorneybitcoin.com
AttorneyBitcoin
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December 15, 2017, 06:47:54 AM
 #211

Hello Sir,

Thank you for giving us a forum to ask questions. I really appreciate you taking the time to write responses. Do you know of any Bitcoin attorneys that you trust in the Los Angeles or southern california region?? Or do you offer services to clients outside of Nevada via Skype and email?

Thanks for your time



I can handle many issues in other states as they can be either federal, general business related or have to do with crypto-businesses.

Best:

George D. Greenberg, Esq.
www.attorneybitcoin.com
AttorneyBitcoin
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December 15, 2017, 06:49:44 AM
 #212

Hello BA,

Thanks for giving us this opportunity to ask an expert in this field. Your knowledge and commitment to educating many is doing a great service for the crypto currency community.

I'm extremely angry that the US government can all of a sudden declare BTC as a form of security and in doing so is trying to scare people into thinking this is true. My understanding is that a BTC transaction is a peer to peer event where 2 parties agree to sell or buy it at a specific price. It is not a business and has no CEO or Board of Directors. How can they and why do they have the power to threaten us if we don't pay taxes on our gains??

Also, I've read many places that if you use Tether or other related tokens and buy Tether with BTC to park you funds it is not considered a liquidation transaction and is not considered to be capital gains...is this correct??

Thank you for your time sir



I am not a tax attorney. The SEC does need to regulate ICO's as a lot of people can get hurt.

George D. Greenberg, Esq.

www.attorneybitcoin.com
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December 15, 2017, 06:51:06 AM
 #213

All,
    I am from Canada and have questions. Will be appreciated if you clear it to me. Thanks in advance.


1- I wana buy 2 bitcoins. Which is more reasonable, trust-able, less fee and fast website working exchange here in Canada ? Quadriga CX , EzBTC or Einstein Exchange ? 

2- If I buy Bitcoins and send to my wallet or my friend wallet (In or out of country) will be an issue with Tax authorities or Government ? 

Your feed back will be highly appreciable. Thanks

I'm sorry I cannot help you with these issues.
AttorneyBitcoin
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December 16, 2017, 06:16:30 PM
 #214

What kind of licence i need to run an ico services? promote ico ,marketing services

Thanks for your answer.


Thank you for reaching out to me. I need to clarify what you mean by "ico services." Are you seeking to help those who are looking to launch an ICO or are you seeking to launch one yourself? Under some fact patterns you would fall under investment adviser and would have to register with the SEC. Now there are  exceptions to this depending upon the nature of your relationship with those you are selling services to, how you are paid, who is paying you and their expectations of you. 

As any sophisticated dev knows, creating a viable coin and launching it is only part of the project. Social media marketing and creating an eco system and following for the coin require an enormous amount of work. Then comes the difficult task of getting listed on a viable exchange. I suspect that these latter services are the ones that you are seeking to provide. There is certainly a market for that but these projects are not for the timid, it is exhausting work.

George D. Greenberg, Esq.

 
AttorneyBitcoin
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December 16, 2017, 08:19:46 PM
 #215

I have answered some general questions related to you inquiry. In order to dig deeper please email me through my web site. Thank you for reaching out to me.

www.attorneybitcoin.com
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December 28, 2017, 12:08:25 PM
 #216

Dear BTC/Crypto Legal Forum:

As an experienced BTC attorney I'm happy to answer all questions here.

I have noticed some misinformation in some answers here. When it comes to taxes, laws and regulations, guessing or opinions are not helpful and can easily lead to problems. Most solutions to all the questions here can be summed up in a few short answers.

I can only give legal advice to laws in the United States but can discuss other countries in general terms. I've been involved as an attorney and a miner in BTC and Crypto's for 3 years. During that time I have represented many client's involved in our crypto world. Happy Mining!

George D. Greenberg, Esq.
AttorneyBitcoin
Las Vegas, Nevada, U.S.A.
www.attorneybitcoin.com

I want to ask about a speculation, what will happen to bitcoin in my country. If for example bitcoin is closed in my country, maybe bitcoin sale site will be closed for all transactions. But if the bitcoin wallet can still be accessed and still be used to store bitcoin, then where to sell bitcoin I have? Because all this time I use the official sale and sale of bitcoin in my country, so I only know the sale and purchase of bitcoin, that's all.

AttorneyBitcoin
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December 29, 2017, 06:09:56 AM
 #217

Dear BTC/Crypto Legal Forum:

As an experienced BTC attorney I'm happy to answer all questions here.

I have noticed some misinformation in some answers here. When it comes to taxes, laws and regulations, guessing or opinions are not helpful and can easily lead to problems. Most solutions to all the questions here can be summed up in a few short answers.

I can only give legal advice to laws in the United States but can discuss other countries in general terms. I've been involved as an attorney and a miner in BTC and Crypto's for 3 years. During that time I have represented many client's involved in our crypto world. Happy Mining!

George D. Greenberg, Esq.
AttorneyBitcoin
Las Vegas, Nevada, U.S.A.
www.attorneybitcoin.com

I want to ask about a speculation, what will happen to bitcoin in my country. If for example bitcoin is closed in my country, maybe bitcoin sale site will be closed for all transactions. But if the bitcoin wallet can still be accessed and still be used to store bitcoin, then where to sell bitcoin I have? Because all this time I use the official sale and sale of bitcoin in my country, so I only know the sale and purchase of bitcoin, that's all.

It's a good question and one that faces people in many countries. When you say Bitcoin "closed" I am going to take that to mean that BTC would be illegal or not allowed in your country. If this was the case then anything you did with BTC in your country would be illegal. It sounds like it is still legal in your country though but you have some insecurities as to what would happen.

You are correct, banks in your country under this fact pattern would not accept deposits that were derived from BTC and this would present a dilemma. Depending upon the amount of BTC your are talking about, if you had a realistic worry that this could happen then you need to explore ways to securely save your BTC until either your country allows it again or you travel to another country that allows BTC in order to exchange for fiat.

Best:

George D. Greenberg, Esq.
www.attorneybitcoin.com
TimmyB714
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January 24, 2018, 05:33:20 AM
 #218

Wow amaZing thread. Thank you for your contribution to this forum.

I have a question regarding buying btc and selling in Asia for profit.

I am currently buying bitcoin and sending the coins overseas to Asia exchange then sell them there. I wire the money back to my USA account and re-buy Btc here.

I repeat this cycle for huge profit.

We have a pool at 5 friends doing this together.

I don’t mind paying tax but is it legal? Do I need a money transmitter license?

I live in California.

Please advise and TIA

-Tim
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