Quote from: optimator on October 24, 2012, 06:19:51 PM

Quote from: JoelKatz on October 24, 2012, 05:51:30 PM

Quote from: optimator on October 24, 2012, 05:07:57 PM

Why isn't gold regulated in this manner? (Especially, since you even have legal tender gold coins...)

They are. Thanks to the Patriot Act, gold dealers are financial institutions and are subject to FinCEN AML regulations.

Thanks, I should have googled first. A quick google search reveals there's a threshold of $50,000 for gold / jewelry dealers to be covered by the regulations. I'm not sure if this has since be amended.

http://www.fincen.gov/statutes_regs/guidance/html/faq060305.html

I believe there are similar exceptions for small business of various kinds. There might even be one for small money transmitters that might make selling bitcoins as a small business perfectly fine.