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Author Topic: glbse btc stock market?  (Read 865 times)
tom10122
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February 26, 2012, 03:25:06 AM
 #1

Is it legit and legal?
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Kluge
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February 26, 2012, 03:27:57 AM
 #2

It is legit, legal gray area (not just for GLBSE, but for you in determining what you're supposed to do for tax reporting), but just about everything involving Bitcoins is currently a legal gray area for tax purposes. AFAIK, nobody's even sure if a Bitcoin's even a commodity or a currency, and that probably changes with jurisdiction. GLBSE is hosted on a US domain and serves US customers, which may or may not be a problem in the future -- Nefario's a far better person to speak on this (as in, don't take what I'm saying as truth), since he's probably actually looked into the potential legal problems.

Don't mix your coins someone said isn't legal
tom10122
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February 26, 2012, 03:48:09 AM
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thanks, so its bassicaly in the same boat as bitcoins  Grin
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February 26, 2012, 06:21:02 AM
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Yeah it's legit and the only tax you should pay in the UK on your profits are Capital Gains tax which you don't pay a penny on with your first £10,000 of gains.

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February 26, 2012, 01:36:43 PM
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What would happen to the stocks if GLBSE hypothetically went down? Would there be any way to claim ownership?
tom10122
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February 26, 2012, 07:44:38 PM
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Ill look into it  Grin gonna mine some more first y'no save up some
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