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Questions tagged [cryptocurrency]

Questions concerning the laws on creating, using, transfering and realising cryptocurrency.

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2 answers
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Why is Silk Road criminal but not LocalBitcoins?

How are the Localbitcoins.com founders safe from money laundering laws? LocalBitcoins says its purpose is to connect buyers and sellers. That legalese makes it escape criminal laws. What about Silk ...
user4234's user avatar
  • 1,101
1 vote
1 answer
238 views

Can I build an iPhone app that generates cryptocurrency income without the user's consent or knowledge?

I had an idea of an iPhone app but I'm not sure if the methods are entirely legal. For that reason I thought I would come here to ask. Where I live, in Canada, it can get pretty cold. Hence, I had the ...
user avatar
0 votes
1 answer
81 views

What laws do crypto exchanges need to abide by?

So they need to collect personal information on each user most of the time right? But how thorough does this information need to be? Do the exchanges need to check with each government to make sure ...
Trevor's user avatar
  • 337
9 votes
1 answer
1k views

How does insider trading law affect bitcoin exchanges?

The Bitcoin network is predicated on the premise that it is difficult to find 'low' hash values for a given input. This is an incredibly safe bet because of the way the algorithm is implemented - if ...
Stewart_R's user avatar
  • 191
8 votes
1 answer
4k views

When does it become illegal to exchange bitcoin for cash?

I've read several "stings" and raids for running unlicensed money transfer businesses for people buying and selling bitcoin on localbitcoins. All of the articles are extremely vague and don't explain ...
user5389726598465's user avatar
6 votes
2 answers
899 views

Is it possible for an individual to commit money laundering like a bank?

In the classic example of money laundering, Charlie the Criminal would take his dirty money to Bob the Banker and get it in some form that is spendable and transferable. In this situation it would be ...
Sam's user avatar
  • 81
3 votes
1 answer
67 views

What are the consequences of being party to a OFAC prohibited transaction?

The US Treasury has sanctioned Tornado Cash which is a tool for mixing Cryptocurrency. Since the sanctions don't actually stop this tool from working someone has used it to send small amounts of funds ...
blues's user avatar
  • 165
3 votes
1 answer
356 views

Legality of Virtual Currency to Purchase Real World Items

A while ago, I saw a company called Listia which would permit users to sign up and attain some amount of Credits. These Credits could then be used to purchase real-world items on the site, such as ...
eithermonad's user avatar
1 vote
0 answers
215 views

Is in-browser crypto mining legal?

Can I get sued when using an opt-in (prompt the user to accept before starting the miner) crypto miner like coinhive or mineralt on my website in the US/EU?
Tom M's user avatar
  • 135
-1 votes
2 answers
188 views

Is it illegal to borrow cryptocurrency without consent?

Suppose I obtain the ability to access someone else's cryptocurrency. For the sake of the question let's assume the means by which this ability was obtained wasn't itself illegal, e.g. I overheard ...
quant's user avatar
  • 232