Quote from: AttorneyBitcoin on August 20, 2017, 05:14:24 AM

Quote from: btc junkie on August 19, 2017, 12:06:56 PM

Hi I have a question about using bitcoin. If I run a website where I buy bitcoin from users globally but I don't sell any, do I need to register as a money transmitter or money services business even though I am only buying bitcoins? Does such a website count as an exchange?

It depends upon your business model, if any, and what you intend to do with the BTC.

George D. Greenberg, Esq.

www.attorneybitcoin.com

Assuming that the bitcoins will be used for personal use and/or internationally, how does the business model determine whether or not I would be considered a MT/MSB if I am only buying and never selling?