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False. It is regulated. Coinbase is simply ignoring the regulations. Any exchange app that transmits Bitcoins involves money transmission. Money transmission i
by thinkcomp 13y ago
False. It is regulated. Coinbase is simply ignoring the regulations.
Any exchange app that transmits Bitcoins involves money transmission. Money transmission is regulated in the United States. No one is following the laws. Apple doesn't want another DOJ action. It's that simple.
- Daniel_Newby 13y agoIt's the money handling that is regulated, not the Bitcoins. You can trade Bitcoins for anything except money without any licensing (in the U.S.). Apple wants out so people will not be carrying around irreplaceable wallets in their phones, then blaming Apple when they get robbed.
- pantaril 13y agoFalse, sending/recieving bitcoins/litecoins/dogecoins/monopoly money is not regulated in us. Only if you exchange those for real money in certain ammounts you need to aply for money bussiness transmition/exchange licence.