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TL;DR If you only buy or mine bitcoins - you are safe. Once you'll try to exchange them for real money - you must be regulated.
by nivertech 14y ago
TL;DR
If you only buy or mine bitcoins - you are safe.
Once you'll try to exchange them for real money - you must be regulated.
- seldo 14y ago"By contrast, a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter." If you mine bitcoins and then convert them to real money (i.e. not buy goods or services with them) then you will be regulated.