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13 votes
Accepted

Is it legal to trade bitcoin for cash in Virginia, USA?

The short answer is that a few individual trades would be legal (e.g. if you sell some to a friend), but doing so on a regular basis for profit (e.g. offering a sale price and a bid price to all ...
Paul Johnson's user avatar
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8 votes

Transferring Paypal money to sons friend

But lately he has had his friend use my PayPal account. Someone will send me money and then I transfer it to where he tells me. To cash app or venmo. That's money laundering. Definitely illegal. ...
RonJohn's user avatar
  • 585
5 votes

HOA shredded our Money Order. Is Money Order an Official Record? Are there other Records we can request?

Check rules apply here, including Check21 This is a bit complicated because of "old school" check rules and the Check21 changes. First, a money order is basically a "bearer document&...
Harper - Reinstate Monica's user avatar
4 votes
Accepted

Legal Considerations for Offering Rewards in Exchange for Tenant Selection in Germany

As written, your question seems to ask for legal advice in a specific case. That would be off-topic. If you are asking strictly as a hypothetical: In germany, there is supposed to be the ...
o.m.'s user avatar
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4 votes

Why is Silk Road criminal but not LocalBitcoins?

It comes down to intent ... and possibly responses to illegal activity. Localbitcoins intention is to facilitate trade in bitcoins - in itself a legal undertaking. Cryptocurrancy transactions can be ...
Dale M's user avatar
  • 211k
4 votes

Would using a StableCoin bypass the "Money Transmitter" laws in the US?

I see that this would put me under heavy US regulation, and I'd like to avoid that, since it would require huge funding to hire lawyers to do something like that. There are many reasons for ...
BlueDogRanch's user avatar
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4 votes

Would a bitcoin "cleaning" service be legal in New Zealand?

The applicable law is the New Zealand Anti-Money Laundering law. The regulations describing exactly what is covered don't mention Bitcoin cleaning, but the "wire transfer" and "currency exchange" bits ...
Paul Johnson's user avatar
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3 votes
Accepted

Would a user expose themselves to legal jeopardy if they were paid to write a question or an answer for someone else?

This would not be "legal jeopardy" per-se, really the only remedy that Stack Exchange would have in a case like this would be to ban both accounts. It would be different if you caused SE some kind of ...
Ron Beyer's user avatar
  • 9,215
3 votes

Is it legal to charge a percentage service fee?

Credit card surcharges, where a customer is charged extra for using a credit card, are prohibited in 11 states. There are also 10 states that allow merchants to offer cash or non-credit discounts, and ...
user6726's user avatar
  • 215k
3 votes

Is it legal to trade bitcoin for cash in Virginia, USA?

You will also need to file your taxes properly The IRS and state will view this as a sale of a security. Any capital gain must be reported on your taxes, i.e. your normal Form 1040 that you file ...
Harper - Reinstate Monica's user avatar
3 votes

Is reselling prepaid gift cards for crypto MSB or not?

According to FinCen's website: The term "money services business" includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more ...
ohwilleke's user avatar
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3 votes
Accepted

Can Merrill 401k Company Legally withhold my 401k from me when it's under $5k total balance?

Merrill is your 401k administrator, but the decision of who and how can withdraw funds is up to your employer. 401k withdrawals are only allowed in limited circumstances(ref 1, ref 2), and you cannot ...
littleadv's user avatar
  • 562
2 votes

Does giving an IOU or store credit make one a money services business?

In store credit and personal IOUs you know the real person you are dealing with and aren't reselling stored value. You also generally aren't laundering crypto into the non-crypto economy anonymously ...
ohwilleke's user avatar
  • 218k
2 votes
Accepted

What are the legal requirements of running a giveaway competition where people play for free

Gambling Most jurisdictions regulate gambling. Exactly what constitutes gambling (and how different types are regulated) varies by jurisdiction but the criteria usually turn on whether the outcome is ...
Dale M's user avatar
  • 211k
2 votes

What features are used to distingish between investing and running a money transmitting business?

The difference between running a business and investing is often important in tax and financial regulatory law. It is always an evaluative judgment, and it is impossible to provide a fixed list of ...
sjy's user avatar
  • 9,188
1 vote

Is it legal to crowdfund the cash prize that would be payed to the winner of a 1-on-1 sporting event?

You are running a business One that holds sporting events and sources it’s funds from the public who are interested in supporting those events. It doesn’t matter if you business is for profit or not-...
Dale M's user avatar
  • 211k
1 vote

Online service disruptions. Can we claim our money back?

If PayPal are in breach of their contract you can sue for damages Economic loss is calculable and there are various methodologies for doing so. Your lawyer will probably have you engage an expert ...
Dale M's user avatar
  • 211k
1 vote

Transferring Paypal money to sons friend

I don't think this has been addressed, but: Contact a lawyer You shouldn't trust random people on the internet with this. You feel uncomfortable, and potentially participate in crimes. You should ...
aaaaa says reinstate Monica's user avatar
1 vote

Is it legally acceptable to make a videogame adaptation of a gameshow?

No. The name of the show and many other elements of the show would be protected by trademark and quite possibly by copyright as well. Your work would be a derivative work of the television show in ...
ohwilleke's user avatar
  • 218k

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