Presidential pardons only deal with breaches of Federal law. So, if the punishment is a fine then that penalty is waived. However, if the fine is punishment for breach of state law, the pardon does not touch it - he would need a pardon from the relevant state Governor(s).
Anthony Levandowski is not being punished with a fine, he was punished with a ...
It is currently legal to barter goods or services in exchange for gold or silver bullion in the United States.
Gold and silver do not have to be registered or certificated, although a prudent person would usually seek evidence confirming their authenticity and it would be common practice to keep gold and silver in a repository such as a bank or Fort Knox, ...
According to the DoJ,
A commutation may include remission (release) of the financial obligations that are imposed as part of a sentence, such as payment of a fine or restitution. A remission applies only to the part of the financial obligation that has not already been paid.
The Brookings Institute offers a slightly different (more detailed) opinion.
If a ...
Let’s say I go to a cash machine, ask for £100, and the machine gives me £10,000. I use my banking app and see that £100 left my account, not £10,000.
At this point I haven’t done anything illegal. If I asked for another £100 and got £10,000 again, that might be illegal.
But the extra £9,900 are not mine. They are the bank’s money. If I try to keep it, that ...
This answer is for the US (at least).
You're assuming that if income is not in dollars or some other national currency, then it is not taxable. That is false. "Barter" income, in which you are paid in other property or services, is taxable just as if you were paid in cash, based on the "fair market value" (in dollars) of the property or services you ...
The most minimal elements of theft are:
An unauthorised taking or use of another's property; and
An intent to permanently deprive that person of that property or its use
You've authorised the fee as per the terms of service that you agreed to. If you didn't read the terms of service, you are deemed to have read it.
As the first element is not satisifed, ...
Not really, just about every currency exchange company does this. After all, how would they make money?
The story around this is that you are being charged for a service. You're paying them for the completion of a service, where they convert the currency of the money for you. Similar things can include being charged for delivery when buying things online, ...
You might get away with it under federal law. But there are potentially also state laws to worry about. Under Texas law 17.461:
"Pyramid promotional scheme" means a plan or operation by which a person gives consideration for the opportunity to receive compensation that is derived primarily from a person's introduction of other persons to ...
The value of noncash tips, such as tickets, passes, or
other items of value, is also income and subject to tax
What tips to report. Generally, you must report all tips
you received in 2016 on your tax return, including both
cash tips and noncash tips. Any tips you reported to your
According to this Treasury Department web page refers the asker to the :
... Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, ...
Yes, and no
You can't legally destroy banknotes but you can destroy coins. You can't "fraudulently" alter coins but that's not what you were doing; you were doing a science experiment, not committing fraud.
The law prohibits the destruction of "bank bill, draft, note, or other evidence of debt": a coin is none of those things. The first three are obvious, ...
Article 1 Section 8 appears to answer your question - only the Federal Government has the power to regulate the value of currency. Unilaterally forbidding the use of pennies as currency would be a regulation of their value (from 1 cent to 0 cents). A state government might be allowed to refuse pennies for the purpose of paying for a service in advance like ...
There are two "cancellations" here. There is a contract between the customer and the company. This contract was ended. Also, as part of GDPR obligations, the data of the former customer was removed.
Now the "credit" part suggests a pre-paid phone, which are often described as "no contract". Legally this is incorrect. There is a ...
Any answer is somewhat speculative, because there are no significant legal precedents.
That said, you are probably not in breach of counterfeiting laws, as they typically protect physical currencies. However, due to the way that laws are written, their scope may be somewhat fuzzy in areas that were not foreseen, so you may find that a law unintentionally ...
Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code states:
United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public ...
First, only cash transactions are reportable: electronic and cheque transactions aren't. The only ones that will be reported are your single withdrawal and deposit.
As you say $10,000 is not a lot of money. What law enforcement is looking for a people who frequently have large cash transactions: they use data matching algorithms to identify these ...
It is common place for major official actions, not just checks but also, for example, governmental buildings, to note the politicians who implemented law or enacted them at the time. This practice is not forbidden by any law or election-related regulation.
There is a strong political norm as a matter of political etiquette that checks from the government be ...
You might be considered a money services business (MSB).
Such business are regulated by the Treasury Department. You can find an introduction to the relevant regulations here. MSBs are subject to many requirements, such as:
Maintaining a list of their agents
Reporting suspicious activity by their customers
Creating an anti-money laundering (...
You seem to doubt your interpretation of the law because you assume that the guy was convicted in the absence of fraud. In fact, that is not the case.
He was convicted of cutting pennies down to the size of dimes so he could use them in vending machines. The conviction therefore confirms your interpretation of the law rather than calling it onto doubt.
You did not specify the jurisdiction. In many jurisdictions, the user is required to cooperate with the correction of the mistake.
If the user uses a banking API to withdraw money, and through a bug the proper account balance is not immediately shown, then the bank needs to correct the display. That's not "confiscation" but the fix of a display ...
You find a wallet on the ground with $10,000 and a driver’s licence in it. If you keep it, is this a crime?
In almost all jurisdictions the answer is, yes.
Same fact situation except you find it electronically.
TL;DNR: It is currently illegal to melt down pennies and nickels in the US.
US law (31 USC § 5111(d)(1)) gives the Secretary of the Treasury the power to "prohibit or limit...the melting of US coins when...necessary to protect the coinage of the US." In 2007, the Secretary (ie, the US Mint) used this power to issue a rule (31 CFR § 82.1(a) & (b)) ...
This is a "how things are in practice" answer, not statutory.
The ruling question is whether the virtual currencies are readily exchangeable for USD.
For instance if there is a thriving, open currency exchange where I can convert 1000 World of Warcraft gold into 1 USD and back again anytime I please, then WoW gold takes on the character of a foreign ...
The pardon power is granted by Article 2 of US Constitution:
The President ... shall have Power to grant Reprieves and Pardons for Offenses against the United States, except in Cases of impeachment.
The pardon power
include the power to grant pardons, conditional pardons, commutations
of sentence, conditional commutations of sentence, remissions of ...
Cryptocurrency, and "virtual coins" are different things.
What you described as "virtual coins" for a website is really just store credits, not Cryptocurrency. In the event of a website closing down. There is likely very little you would be able to do to recover your money.
Cryptocurrency is considered property by the IRS, not legal money. The value is ...
Yes, they are legal tender.
31 USC 5103: United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.
They are United States coins so they are legal tender. The age of the coins is irrelevant and I don't think that the ...
Superficially, this looks like a viable business model. You would want to check the UK regulations on KYC to see if it addresses these kinds of issues specifically. If there was a safe harbor provision, you would want to tailor your agreement to fit it.