Post
Topic
Board Beginners & Help
Re: How are TradeHill, Bitcoin7, Britcoin, MtGox etcetera licensed/regulated?
by
pjce
on 22/06/2011, 22:00:56 UTC
I don't WANT to have btc exchanges registered, but it's currently the only way I see how the market can mature.

Think about it: Those exchanges carry accept millions of USD from users. You need a bank account for that. The tax man will see that as revenue without costs (i.e. pure profit) unless you register as an entity that holds other people's money i.e. a currency exchange.

Edit: And there is no way escaping the tax man since in most countries all transactions above 10K or so are communicated to the authorities.

Edit2: Maybe using just Dwolla you can keep it off the books totally, but again I think the future is in expanding the market to the masses.