Questions tagged [currency]
For questions directly relating to currency, its use and legalities - not just when currency is involved
127
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Do US presidential pardons include the cancellation of financial punishments?
https://www.cnbc.com/2021/01/20/anthony-levandowski-pardoned-after-stealing-trade-secrets-from-google.html says:
Anthony Levandowski pardoned after stealing trade secrets from Google
In August, ...
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21
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3
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Is it legal to physically wash money?
I have some money that fell in a mud puddle. It got really dirty, and I don't want to put it in my wallet as it currently is. Is it legal to wash the money?
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5
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If I quit, can my employer claim back pay that was agreed to but not included in our written contract?
About a year ago I started a job, my contract for it says:
Pay and Expenses
The Employee will be paid £9/hr in arrears. Salary may be increased at the direction of The Employer subject to The ...
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11
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1
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Do legal tender laws prevent "no cash" restaurants?
This story about restaurants that only accept electronic payment set me wondering. I know that under legal tender laws a business can set a policy on what forms of payment it will accept, but that ...
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Can a business owner refuse specific Bills and Coins?
I was reading an article article which outlines a Pizza Shop owner in Canada who is refusing to take $10 Bills with John A. MacDonald on them. For context John A. MacDonald(the first Prime Minister of ...
8
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3
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557
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Can a restaurant in Germany refuse service without a tip?
So I live in Germany, and there is a restaurant about 10 minutes away from my house. I often order from there but now much less. Delivery times can vary from 1 hour to several hours… I just noticed on ...
Jimmy
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1
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Can a creditor refuse to accept a $2 FRN because he doesn't think they exist?
Like all Federal Reserve Notes (FRNs, aka "bills" or "cash"), the $2 FRN is "legal tender for all debts, public and private."
However, a lot of people don't know about ...
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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 ...
7
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Can gold/silver bullion be used to buy/sell market goods?
U.S. here, specifically NY state.
Suppose I have an authentic gold coin ("bullion"). Vendor X is selling a product that she is willing to sell me for the general value (I say general here ...
7
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1
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Do public schools have the authority to fine parents money for being late?
My friend has a child in elementary school, and he goes to a public school. Apparently, at the end of the school day, if the parents are late picking up their kids, the school charges them $10/minute ...
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Bank is not depositing my promotion bonus
I opened a bank account in response to a promotion in a big bank (I'm in the US). Originally it was saying "if I keep my money (50K) for 60 days, I get $600". The agent at the branch didn't say ...
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Can you initiate a lawsuit against Russia in the United States to recover seized assets?
Ever since the start of the Ukraine conflict in 2022, Russia has halted payments to international creditors and individuals holding assets like stocks.
Is it possible for an average person who happens ...
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214
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On the legality of replacing international transfers with intranational ones
Here is a fictional story based on this question.
Andrey is a Russian programmer residing in Germany who makes regular wire transfers to his father, Boris, who resides in Russia. Chris & Dasha, a ...
5
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1
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Hypothetical: Is a fully disclosed pyramid scheme legal?
I see that hypotheticals don't typically go over to well on this SE site but I'll give this a shot.
EDIT: I originally posted as 'Ponzi' but I meant 'pyramid'
Was talking with a friend tonight about ...
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5
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2
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If someone gets money from a crime such as selling drugs, and then gives the money away, does the person who receives it own it legally?
If someone gained money illegally but in a way that they were not directly stealing it from someone (such as selling drugs or illegal weapons), and then they give the money away to a friend or ...
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Taking large sum of dollars from the US to a country that is under economic sanctions
I am going to fly from one of the US airport to Iran (with a connection in Doha, Qatar). As you know Iran is not a normal country, as per its relation with the US.
I am planning to take a relatively ...
4
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2
answers
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Can someone deny cash as the payment method?
There are a few restaurants in my area where cash payments are not accepted. They only accept electronic payments such as credit cards, local debit cards, etc. Is this legal?
On most currencies, it is ...
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4
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3
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501
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What is the legality of two (or more) trade partners trading (i.e. billing) each other in a mutually agreed units of exchange
Assuming that company A (based in say, the US), wants to trade with another company (B say), based in say, Germany (or anywhere else in the world).
Assuming that these two companies have agreed to ...
4
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3
answers
954
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Borrowing from a relative or friend without documentary evidence — is it money laundering?
Suppose a person borrows money from a relative or friend, say, 10 million USD, without documentary evidence — the transaction is purely based on trust and cultural norms.
If the borrower invests the ...
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4
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1
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278
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Does an alchemist have a duty to disclose if they transmuted their gold?
If a person were to discover a method to transmute lead into gold easily, would they be required by law to disclose this information when selling it or exchanging it for currency?
The method used ...
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4
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2
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389
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Is it legal to buy unfit currency for less then face value
I currently have a business idea that I’m wondering is legal or not.
I live in the United States if I go to a foreign country and buy USD bills that have been buried and are presumed unfit.
BOA and ...
4
votes
1
answer
301
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Under what authority can the US make federal reserve notes legal tender?
By what constitutional authority does the US have to make these legal tender.
I can see in the constitution that the US can coin money, but the right to make legal tender is given to the states and ...
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4
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2
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Can I destroy US currency?
From what I understand, destroying US currency is illegal with 0 exceptions. Legal Information Institute says: “Whoever mutilates... cements together, or does any other thing to any bank bill... or ...
4
votes
1
answer
322
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Could a state legally phase-out pennies?
Debate has existed for some time in the United States whether the penny should stop being minted, due to its small purchasing power and cost of production [1].
From what I understand, to discontinue ...
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4
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1
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Can you run a Patreon and collect money on behalf of someone else?
Say a guy creates a Patreon for his brother who is a video game designer. A lot of people love his games and he's popular in the community. The guy does not imitate his brother, but instead claims ...
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4
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1
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397
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How does the Bank Secrecy Act affect normal law-abiding citizens?
The Bank Secrecy Act of 1970 was designed to detect money laundering by organized criminals. Among other things, it requires banks to report large currency transactions in excess of $10,000 to the ...
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4
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1
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Exploiting a bug in bitcoin is unethical, but is it illegal? [duplicate]
Suppose I found a bug in bitcoin or any other cryptocurrency that allows me to create as many coins as I want. What would be the legal implications in jurisdictions like:
USA
Europe (UK, Germany, ...
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4
votes
1
answer
463
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Paid in Bitcoin - Company can't deliver and wants to return money in other currency
For about one month I ordered something at a company and paid in bitcoin (0.015Ƀ). The value at that time was about 25$
The company confirmed that they received the payment.
Unfortunately they can't ...
user9886
4
votes
1
answer
376
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Legality of secretly micro-chipping coins?
In the UK, we are less than a week away from the new £1 coin coming into circulation, which has been billed as 'the most high-tech coin in the world'.
In an effort to reduce counterfeit, they have ...
4
votes
1
answer
228
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Is defacing currency such as coins illegal?
So on reddit today I saw this quarter that was artistically carved and made into a necklace/medallion. I've also seen people that create rings out of quarters and not to mention those penny-pressing ...
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4
votes
0
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Bitcoin service regulations
Most governments don't consider Bitcoin to be currency, so it's somewhat of a legal gray zone regarding regulation. I know most exchanges must follow KYC/AML systems because they trade with fiat too, ...
3
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2
answers
229
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Do any USA states require accepting US cash for payment of goods or services?
According to the United States Federal Reserve:
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or ...
3
votes
2
answers
227
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Why isn't a casino forced to return funds lost by an embezzler?
If person A steals something, say a bicycle, and sells it to me (I have no knowledge that the bicycle was stolen) the law says I must return the bike to its rightful owner without any compensation - ...
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3
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3
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How does a flow-through LLC own assets?
A Limited Liability Company (LLC) is a business under US law with the following characteristics:
Establishes a "corporate veil" of limited liability, such that creditors or lawsuits can only go after ...
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3
votes
2
answers
127
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Destroying U.S. dollars and getting replacement ones
I remember reading a short story which involved a man trying to smuggle a large quantity of dollars out of USSR.
The soviet agents detain him at a border crossing, search all of his belongings, but ...
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3
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2
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306
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Is it legal to keep a small amount of cash I found on the street?
I found a £5 note on the street tucked under some leaves a few months ago while walking a route I regularly walked. There was nobody around and there are no shops near to where I found the note for me ...
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3
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3
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Does the government have to accept cash for taxes?
If a government entity assesses a tax, does that entity have to accept cash and/or coins, or can they refuse such payments and demand check or card? Assume that it is perfectly normal to pay this tax ...
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3
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1
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I have multiple Gift Cards for a retailer but they refuse to let me apply more than one per order. Is this legal?
We were recently given a couple dozen gift cards from multiple web sites, but as far as I can tell the same parent company (website design is the same, about us page is the same etc.).
I've already ...
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4
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Can restaurants call cops on customers who leave fake "Jesus money" as tip?
I've been reading that in the US there's a thing where certain kinds of people leave fake bills with just a corner showing just the dollar amount and the rest hidden under a napkin or peeking out of ...
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1
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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 ...
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2
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What happens if an individual exceeds the maximum to be donated to a presidential candidate?
For 2020, the maximum donation is $2800. What trouble will someone be in if they break that rule, either on accident or purposely?
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votes
1
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Is a school legally required to accept pennies as payment?
At my public high school in Florida, Seniors are required to pay for parking in the Senior parking lot.
There is a student who doesn't like that he has to pay, so in order to spite them he went to ...
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3
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4
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Which country's laws apply to a gambling website?
I´m thinking of starting a Gambling site based on Steam Skins currency. This would transfer to virtual currency and the skins deposited to private profiles. The problem here is that I wonder if I´m ...
3
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0
answers
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Is theft of virtual currency prosecutable?
My friend and I play a virtual game called Second Life. In this game there is virtual currency called Linden dollars that you can either earn within Second Life from other players through virtual ...
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3
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0
answers
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Legal to mine bitcoin when on U.K. benefits?
I am a uk citizen lining in England who is currently on ESA benefits since I cannot work at the moment.
I understand that I am only allowed a certain amount of money in my name at a time and if I ...
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2
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5
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Assuming a one trillion dollar coin exists, and is stolen, is there are sequence of events that could lead to someone legally owning it?
A funny (and seemingly legal, if absurd) proposal during the current debt ceiling debate is to mint a one trillion dollar platinum coin and deposit it with the Treasury to reduce the debt below the ...
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2
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451
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Can you buy a luxury car with cash?
Let's say, hypothetically, you try buying a luxury car or expensive jewelry using cash (100 dollar bills in a bag!). Would that be legal? Will IRS or FBI or anybody come knocking on the door asking ...
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4
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Is the game company required to help and take actions for a player who got scammed in the game for virtual currencies?
According to the answers in this question, you are legally responsible when scamming someone for virtual goods in a game. However, in most of the cases it is very hard to actually get any information ...
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3
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407
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Is it legal for a US city to create its own currency?
Is it legal for a US city to create its own currency, and requires local businesses, or businesses and residents, to be willing to accept payments in that currency?
That is, nobody would be able to ...
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3
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Is it illegal to buy and/or sell "feet pics" or pictures of feet if the seller is a minor?
Curious about this -- I'm not a buyer of such things. A growing trend online that has been booming is females selling pictures of their feet online, very often to male buyers. If the seller happens to ...
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