Hi,

I can't wrap my head around how exactly the bitcoin exchanges are licensed/regulated in their respective home countries.

Given that all of them accept money from account holders they must at the very least file as an "exchange" in their home countries, because otherwise all deposits hitting their bank account would be considered revenue for their company (and thus taxable), right?

I've been reading around and below is my understanding of the market right now:

1) Mt Gox
Licensed in Japan, bank accounts around the world but not licensed outside Japan

2) TradeHill
Chilean company, no special financial exchange license?

3) Britcoin
UK company, no special financial exchange license but applying under UK regulation

4) Bitcoin7
No idea, seems amateuristic given that prices in USD and EUR stay exactly the same in their website so I fear the worst

5) Others I'm forgetting?

Could people who understand the situation better please chime in so we can make this thread an overview of the market situation from a legal point of view?

Thanks!