Post
Topic
Board Bitcoin Discussion
Re: Unlicensed Exchangers
by
btccashacc
on 17/08/2016, 13:27:53 UTC
BTC is not considered a legal currency in any country. It is considered a commodity or asset. Also, the same laws operate in almost all the countries. Once you are running an exchange/broker/forex business (accepting fiat or sending fiat) you must be licensed.  

USA is enforcing the laws much better than other countries, that's why some exchangers registered in US have applied for financial licenses. The rest of them are operating illegally.
you're right !
in my country our local exchanger has licensed same like broker or forex company, since bitcoin used as a commodity like gold or oil thus our government allow them, however using bitcoin as a currency in our country is breaking the law and could be prosecuted, but until now I did not see anyone convicted cause used bitcoin as currency