Quote from: DeathAndTaxes on March 19, 2013, 03:11:24 AM

Quote

As TU.SILVER stocks all the silver it sells, it is now the only legal coin shop in the community.

False.

IANAL but according to the quote, it appears illegal to use Bitcoin to buy USD from a third party on behalf of a customer. The point seems to be, they've separated the transaction into two parts (the currency transaction and the sale of the metal) and said "Wait a minute, you're exchanging money on behalf of other people, you need to register". Or am I reading that wrong?

Again, I'm sure this will be no big deal. I am sure existing coin shops and funds will act quickly to rectify their non-compliance. For example, there's over 40,000 licensed money transmitters in the US already, and it only costs $1000 to register in Washington state ([12:32] http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/WA-Currency-Exchange-Company-New-App-Checklist.pdf).

Quote from: jgarzik on March 19, 2013, 12:20:33 AM

tl;dr... bitcoins are legal