Quote from: bassjoe on July 05, 2013, 08:46:31 PM

Quote from: farlack on June 28, 2013, 12:33:21 AM

Quote from: BitcoinBarrel on June 27, 2013, 01:16:36 PM

I just don't get it.... why people are getting into legal trouble with Bitcoin. How can they say you need a Money transmitter license for Bitcoin? What is the difference between Bitcoin and Swagbucks or XBox points? To me it's just a digital product with no need for Government regulation at all.

Fiat in, fiat out. There is your simple answer..

That is WAY oversimplified. If that was the case, then PayPal would not need to be licensed. Same with MoneyGram, Western Union, Square, etc. Using fiat has nothing to do with it.

That's the problem. All those other companies you mention are licensed, and follow strict gov't guidelines when it comes to anonymity to those transferring large amounts (Over $10,000). There have been a few Bitcoin companies that went legit/are going legit, so you won't have any more problems using them legally then you would using PayPal. But the Cryptocurrency users have been nailing these companies in the forums, and stop doing business with them as using them is "The reason they use Cryptocurrency in the first place for complete anonymity" MtGox is I believe currently going down the route of going legit. It's not hard to find posts on this forum nailing them for doing so.