FinCEN Ruling is in - Friendly to Miners

[HELP.org]

http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/

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[empoweoqwj]

Why are you publishing stuff from months ago that has been discussed extensively before?

[HELP.org]

Why are you publishing stuff from months ago that has been discussed extensively before?

I don't know what you are talking about, you should read the link.  This was a ruling that as just released.  As pointed out the previous discussions were that miners had to register and FinCEN now ruled they did not have to register as long as they didn't fall into the exceptions.

[HostFat]

It's really a good news for US miners

[empoweoqwj]

Why are you publishing stuff from months ago that has been discussed extensively before?

I don't know what you are talking about, you should read the link.  This was a ruling that as just released.  As pointed out the previous discussions were that miners had to register and FinCEN now ruled they did not have to register as long as they didn't fall into the exceptions.

Sincere apologies. I couldn't see a date on the top section, just the bottom section.

[Bob Derber]

Thanks for finding and posting this Milie.

After reading this, I am still wondering how it might be applied to the various forms of pooled mining.  I did like the distribution to shareholders language, but someone with a better understanding of FinCEN than I have could really help....

Hoping Scott Benson and/or Jerry Brito might chime in..... or another expert out there....

bob

[drewster]

http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/

Thank you for posting this link.

How do you feel this applies to Pools and group buys?

[HELP.org]

http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/

Thank you for posting this link.

How do you feel this applies to Pools and group buys?

I want to hear the lawyers chime in.  It sounds to me like those things are contracts and not mining directly.  The Pool operator or group miner may be under the rules but most of them are outside the US.  In the end I don't think it will matter much because electricity and cooling will be cheaper in other parts of the world.  I don't understand all the details behind the exceptions they listed.