Regulations for a payment gateway

[Golerm]

I'm looking into developing a multicoin payment gateway like coinpayments or bitpro.cc

It will be based in the US. Do I need to to check regulations or is paying taxes enough?

[seoincorporation]

For the moment, it seems unclear the future regulations in the US.
Maybe this is useful for you to read the 2018 US Joint economy report, here: https://www.congress.gov/115/crpt/hrpt596/CRPT-115hrpt596.pdf
The chapter 9 is fully dedicated to the crypto world and the wills or regulations.

[Golerm]

For the moment, it seems unclear the future regulations in the US.
Maybe this is useful for you to read the 2018 US Joint economy report, here: https://www.congress.gov/115/crpt/hrpt596/CRPT-115hrpt596.pdf
The chapter 9 is fully dedicated to the crypto world and the wills or regulations.

Thanks, very interesting to read. Although it tends to support "Bitcoin isn't real money" overall.

[seoincorporation]

Thanks, very interesting to read. Although it tends to support "Bitcoin isn't real money" overall.

Yes, of course, If I remember it correctly, what they say is that bitcoin can't be considered as money (yet) due to its volatility in the market. To me, it makes sense, for the money should be used as a mechanism of change between products or as a way of getting commodities. If you can't determinate at what price are you going to sell any commodity (due to the volatility of the coin you want to use), it is normal for Bitcoin to can't be considered as money (yet). Nevertheless, in the article, there are many terms of discussion, as I understand, the whole text it seems to be looking for a way of introducing btc into the economy, which means good news.

[avikz]

I'm looking into developing a multicoin payment gateway like coinpayments or bitpro.cc

It will be based in the US. Do I need to to check regulations or is paying taxes enough?

Registration as a business entity is an absolute necessity if you want to avoid any future problems. Paying taxes is just one part of it. Even though no separate law exists for crypto payment gateway because US law classifies cryptos as stocks/assets and not real money. So there are many open questions yet to be answered by the respective agencies. But when you are building a payment gateway for cryptos, it is a business, so you should not avoid the registration part. If you can hire a lawyer to get those open dots connected, that will bring you some good insights. But paying taxes is not enough.

[gantez]

In every jurisdiction including that of US, registration of company or organization is primary. If it is not registered, everything done there is void incase of accident, fraud, negligence etc and the full punishment is measured as to offence. So it is better registered first and tax can come in as duty or social responsibility.

[carlfebz2]

Thanks, very interesting to read. Although it tends to support "Bitcoin isn't real money" overall.

Yes, of course, If I remember it correctly, what they say is that bitcoin can't be considered as money (yet) due to its volatility in the market. To me, it makes sense, for the money should be used as a mechanism of change between products or as a way of getting commodities. If you can't determinate at what price are you going to sell any commodity (due to the volatility of the coin you want to use), it is normal for Bitcoin to can't be considered as money (yet). Nevertheless, in the article, there are many terms of discussion, as I understand, the whole text it seems to be looking for a way of introducing btc into the economy, which means good news.

Just as expected for those words to come out which is really indeed the fact about bitcoin which it isnt considered as money.There are lots of things which would really not collaborate on bitcoins feature or price behavior thats why its normal for them to see or discussed the negative part but on the latter part they do already giving or putting attention into its existence.