Is it illegal for me to sell my Bitcoins?

[YTBitcoin]

I think you should not have to sell your bitcoins but have to keep them in your wallet and whenever you want to buy any thing try to search it on online shops where bitcoin is accepted and when you will need to shop on any shop where you will have to pay with credit card then try to use bitcoin debit card.

[mindrust]

As long as you don't do it as a job, you will be fine.

And if you don't live in the US, UK or Germany; you will be fine whatever you do.

Still you better be careful and don't make many money transfers from your bank account.  Too many large amount of money movements from the same account will definitely take attention.

[Xester]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

That was weird.  I never heard of that kind of story before.  If they were told that they are illegally transmitting money without a license, would that mean that they were being monitored? 

I do not think that it would happen to me.  Bitcoin is legal in my country.  Maybe those person who were charged with illegal transmission of money may be involved in some crime before.  They must have used bitcoin to cover up some of their illegal activities.  Bitcoin is legal to sell.  Everyone is doing it.

[groll]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

That was weird.  I never heard of that kind of story before.  If they were told that they are illegally transmitting money without a license, would that mean that they were being monitored? 

I do not think that it would happen to me.  Bitcoin is legal in my country.  Maybe those person who were charged with illegal transmission of money may be involved in some crime before.  They must have used bitcoin to cover up some of their illegal activities.  Bitcoin is legal to sell.  Everyone is doing it.

Are you sure that it will not gonna happen to anyone?  It just happened to him and I think we should be more extra careful.  And you are right, maybe some one was charged of transmitting money without a license because they have a case before.  Maybe they sell their bitcoins and then the buyer did not receive anything.  So they was on the watch and then when there was another transaction they were trapped.  As long as we do not do something wrong or fool anyone we are safe with buying and selling our bitcoins. 

[StoreBit]

I think you should not have to sell your bitcoins but have to keep them in your wallet and whenever you want to buy any thing try to search it on online shops where bitcoin is accepted and when you will need to shop on any shop where you will have to pay with credit card then try to use bitcoin debit card.

yes it is very good feeling if you have the opportunity to use bitcoin directly for buying and selling things but if you have no such facilities available in your area then you must have to convert it in fiat currency but if your state do not allow you to do so and still you converting it in your fiat currency then you are in fact involve in illegal activities.

[groll]

I think you should not have to sell your bitcoins but have to keep them in your wallet and whenever you want to buy any thing try to search it on online shops where bitcoin is accepted and when you will need to shop on any shop where you will have to pay with credit card then try to use bitcoin debit card.

yes it is very good feeling if you have the opportunity to use bitcoin directly for buying and selling things but if you have no such facilities available in your area then you must have to convert it in fiat currency but if your state do not allow you to do so and still you converting it in your fiat currency then you are in fact involve in illegal activities.

That would be a hard thing to do.  If your country do not allow bitcoin how come you convert it into a fiat currency.  Maybe you could try something like open an account with paypal and started to do some trading and all the fees will be transferred on your paypal.  Or the only way you could do is to buy products online, then you can spend your bitcoins without making any risk or tagged to be an illegal activity.

[PsursV]

Agreed with enryk there is usually a limit on the amount you can sell without getting in trouble. You will usually have to refer to local laws of your area to make sure.

Vethan Law Firm
[/quote
but i think there is no limit for bitcoin selling or buying, and still there is no law yet exercise any where about bitcoin so bitcoin is free from any law and still no government has yet any official announcement about bitcoin,

[AdolfinWolf]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Depends mostly on your country, some countries dont have any rules, some completely block it, also in some countries you need to pay tax about it.

[Xester]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Depends mostly on your country, some countries dont have any rules, some completely block it, also in some countries you need to pay tax about it.

True.  It really depends on one's country that he is living in.  Countries that banned or blocked it might not really be interested or did not studies bitcoin's potential.  Since the government would not really benefit from it then there is no reason for these countries to allow bitcoin in their country.  Fortunately bitcoin is allowed in my country and I can have my extra income through this.

[Maesters1-]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Depends mostly on your country, some countries dont have any rules, some completely block it, also in some countries you need to pay tax about it.

i thin still not a single country has given any statement about bitcoin, i think still they do no feel the need to give any statement about bitcoin, therefore ever one is free to use bitcoin either sell it or buy it or hold it,

[eaLiTy]

As long as you don't do it as a job, you will be fine.

And if you don't live in the US, UK or Germany; you will be fine whatever you do.

Still you better be careful and don't make many money transfers from your bank account.  Too many large amount of money movements from the same account will definitely take attention.

i didnt know about these things,i thought if you file the income tax returns correctly even your online returns and bitcoin transactions comes under online revenue and you would be fine,personally i dont have any experience since i never sold a huge stash of coins at one time,but i have filed all my returns,about the arrests that OP mentioned i do not think you wont get into trouble unless you deal with illegal items .

[PacePay]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Depends mostly on your country, some countries dont have any rules, some completely block it, also in some countries you need to pay tax about it.

i thin still not a single country has given any statement about bitcoin, i think still they do no feel the need to give any statement about bitcoin, therefore ever one is free to use bitcoin either sell it or buy it or hold it,

You are right we are free with our bitcoins none of the country have control over it and they do not have any restriction over it and I have not heard about any person who has been arrested for the using/selling of bitcoins.

[btclaw]

Depends on what country you live in. I think as long as the money is claimed on your taxes, in most countries you should be fine.

[Superways]

Depends on what country you live in. I think as long as the money is claimed on your taxes, in most countries you should be fine.

If the person is using his bitcoin to sell for online payment processor to get e currency and use them for buying digital services then none of the tax will be on him and none of the government can trace him.
and a lot of people are selling their bitcoins and none of them have faced any issue like that so it means it is legal and with bank withdrawal the government collect its tax etc.

[bestluck]

Depends on what country you live in. I think as long as the money is claimed on your taxes, in most countries you should be fine.

If the person is using his bitcoin to sell for online payment processor to get e currency and use them for buying digital services then none of the tax will be on him and none of the government can trace him.
and a lot of people are selling their bitcoins and none of them have faced any issue like that so it means it is legal and with bank withdrawal the government collect its tax etc.

there is another way in my mind if we get a bitcoin debit card which will not need any verification then we can deposit our bitcoin to that debit card and so we will get the money of us which we have in bitcoin that is a good method to sell our coins in our local currency.

[fatima zuhra]

if your country banned it to buy or sell bitcoin and still you are selling your bitcoin then it is illegal, but i think still not a single country has declare it as illegal and therefore we can see people from all over the world here in bitcoin world.

[Superbitzz]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Depends mostly on your country, some countries dont have any rules, some completely block it, also in some countries you need to pay tax about it.

i thin still not a single country has given any statement about bitcoin, i think still they do no feel the need to give any statement about bitcoin, therefore ever one is free to use bitcoin either sell it or buy it or hold it,

You are right we are free with our bitcoins none of the country have control over it and they do not have any restriction over it and I have not heard about any person who has been arrested for the using/selling of bitcoins.

yes i agree with you i also not yet hear about any one who is arrested for using bitcoin, buying or selling so still bitcoin is not banned in any country and that is the reason that we can see people fro all most all the countries of the world in bitcoin forum.

[kollo99]

if your country do not allow you to sell or buy bitcoin there certainly it is not legal for you to buy or sell your bitcoins because being a good citizin you have to follow the rules and regulation of your country, and if you will not follow the rules and regulation of your country then you will be charge for this,

[home alone]

i do not thing so because still no one country still consider bitcoin as illegal, therefore selling an buying of bitcoin is legal for you.

[croutonhexagon]

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

There is no such rules to make license for bitcoin business. It is completely decentralized and no institution have control over it but yes they could ban bitcoin but they can't force us to make license. That guy who got arrested might be fool and might not have much knowledge about bitcoin business. It's totall fake report but in many countries bitcoin is banned so it might be case of those country.