Quote from: QuestionAuthority on August 21, 2016, 03:09:16 AM

Quote from: BossMacko on August 21, 2016, 03:04:42 AM

Quote from: Blinken on March 10, 2015, 12:53:45 PM

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Haven't heard that someone got arrested because of selling bitcoins. But i do heard that some countries are forbidding people to use Bitcoin, maybe in that country if they traced you or caught you doing transaction with Bitcoin then you'll get arrested. As long as i know when you are using bitcoin you are anonymous and that is the reason why i use bitcoin to avoid tax also.

You two need to look earlier in this thread at the posts of BurtW.

So they don't have to bother actually reading the thread:

Quote from: BurtW on November 02, 2015, 06:07:03 PM

I was arrested for selling my Bitcoins using localbitcoins.com

I paid all of my capital gains taxes on all of my trading - that was not the issue. The legal issue boiled down to one question: was I operating a business or not. They claimed it was a business, I claimed it was not. After being forced to "donate" about $40,000 in cash and $40,000 in Bitcoin to their Federal Asset Forfeiture slush fund we agreed to disagree and they dropped the charges. Defending me against the federal felony charge [Operating a business without a license, up to five years in prison and a $250,000 fine] did end up costing us almost $300,000 of our retirement funds, our daughter's college fund, our savings, and the equity in our house.

You can read all about it here:

http://www.jmwagner.com/
http://www.burtw.com/

However, if you sell your Bitcoins though an exchange you will not run into this specific issue since there is really no way they can call it a business, go after you, and then grab all the assets they can get their money grubbing hands on.

Quote from: BurtW on November 04, 2015, 02:01:19 PM

Quote from: newbitcoins on November 03, 2015, 08:11:41 AM

If you use localbitcoins to buy and sell a small amount of bitcoin, that is not a business.

Since my case was dismissed before it went to trial this was not decided. Whether this it is a business or not currently can only be decided by a jury.

Quote from: newbitcoins on November 03, 2015, 08:11:41 AM

It is not a money transmitter.

Also not true. You would have to argue this point with motions before a judge and then possibly a jury. This would have been an argument in my case but again the motions were never filed and the case did not go to a jury.

Quote from: newbitcoins on November 03, 2015, 08:11:41 AM

But you have declare that you do not deal with drug dealers.

And this would help you how? Sure, if someone says "I am a drug dealer" or "I am an undercover cop pretending to be a drug dealer" or "I am an undercover Homeland Security agent" then you should not trade with them. But all of these guys will lie to your face. Then what?

Quote from: newbitcoins on November 03, 2015, 08:11:41 AM

The bitcoin you sell should not be used illegally.

In my case the only legal issue was whether it was a business or not. If you use your Bitcoins to do something illegal, for example to buy a controlled substance with them, that would be a whole different case. Anyway, how would you go about enforcing how the Bitcoins bought from you on localbitcoins eventually get used?