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Re: [500Th] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 #
by
Luke-Jr
on 10/11/2013, 00:07:12 UTC
Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.
I don't know that any nation has a rule like that... the closest I'm aware of would be FINCEN's guidance that created virtual currency has such regulatory properties - but miners just discover coins predetermined by the protocol, they don't create them. In any case, I doubt any legal institution cares about technicalities.

Thanks.  It was the FINCEN guidance I was referring to but then I take it that never became legally binding for US citizens?
As far as I know, it's been legally binding since even before the guidance was written (ie, they were just explaining the law's application).
IANAL, but miners don't create bitcoins, so it doesn't apply to us at all.