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Isn't this obviously illegal? "I call on the cryptocurrency exchanges of the world to accept transactions with auroracoins." That's plainly violating the capi
by throwaway_yy2Di 13y ago
Isn't this obviously illegal?
"I call on the cryptocurrency exchanges of the world to accept transactions with auroracoins."
That's plainly violating the capital control laws (on the Icelandic side). Notably, the central bank already declared that those laws apply to Bitcoin:
"It is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act"
https://en.wikipedia.org/wiki/Legal_status_of_Bitcoin https://en.wikipedia.org/wiki/Legal_status_of_Bitcoin
- sroerick 13y agoIsn't this the point of the coin? Iceland's government made it illegal to use Bitcoin, so nobody can buy into the currency. By giving the premined coins to Icelandic citizens, they are trying to create a stable crypto ecosystem and help icelanders avoid the legal repercussions of the Icelandic Foreign Exchange act. The wiki page you linked said this: "commentators suggest bitcoins mined within Iceland could be freely traded." The premine is expressly for this purpose.
- qnaal 13y agoThe fact that it's illegal but not morally wrong makes it immoral to preserve the law.