Quote from: jimafternoon on May 15, 2013, 08:11:26 PM

It doesn't make it illegal, but you have to comply with the regulations.

According to this article, mtgox spent $25 mil in first year to become financially compliant in the USA...

http://www.theverge.com/2013/4/1/4154500/mt-gox-barons-of-bitcoin

Quote from: morningtime on May 15, 2013, 08:15:40 PM

Quote from: jimafternoon on May 15, 2013, 08:11:26 PM

It doesn't make it illegal, but you have to comply with the regulations.

Correct, but no individual is allowed to exchange Bitcoin in the US anymore. You have to be a registered Money Service Business. Currently there are none?

According to us law you need the license even in your not a us based company but are doing transactions with people in the USA.

Quote from: morningtime on May 15, 2013, 08:15:40 PM

Quote from: jimafternoon on May 15, 2013, 08:11:26 PM

It doesn't make it illegal, but you have to comply with the regulations.

Correct, but no individual is allowed to exchange Bitcoin in the US anymore. You have to be a registered Money Service Business. Currently there are none?

Quote from: mjsbuddha on May 15, 2013, 08:13:15 PM

Quote from: leopard2 on May 15, 2013, 08:08:14 PM

Hey read again. If you mine and sell for goods (say gold) you are fine. You just cannot mine and sell into USD directly. You could also mine and convert into LTC, for example. Then sell the LTC or the gold.

Again, litecoin counts under this legislation just as much as bitcoin

Also mining isn't for everyone, and conferring fiat to ltc isn't any easier than fiat to btc.