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Did you, and if so, how did you address the legal issues brought up in your previous post? https://news.ycombinator.com/item?id=7157180 https://news.ycombinator
by hrayr 13y ago
Did you, and if so, how did you address the legal issues brought up in your previous post? https://news.ycombinator.com/item?id=7157180 https://news.ycombinator.com/item?id=7157180
- mhluongo 13y agoI've got a firm working on the issue right now. We're seeking clarification from FinCen and keeping that side closed until we know their stance.
- molsongolden 13y agoIs it still money laundering now that the IRS has said that Bitcoin is property and not currency?
- dragonwriter 13y ago> Is it still money laundering now that the IRS has said that Bitcoin is property and not currency? Since that was an interpretation of categories in tax law, which are completely different than those applicable to money laundering, the IRS determination on how bitcoin is taxes probably has no bearing on any analysis of how money laundering laws apply.
- gamblor956 13y agoYes. The IRS and FinCEN are sister agencies, so the pronouncements of one agency have little effect on the other. In this case, for IRS (i.e., tax) purposes, bitcoin is property. For FinCEN purposes, bitcoin is a "virtual currency" which results in many but not all of the same rules that apply to persons dealing in real currencies.