Post
Topic
Board Economics
Re: Medium of Exchange vs Store of Value - and effect on BTC worth
by
natd
on 07/12/2013, 14:06:01 UTC
Can't businesses accept BTC at "market price" like restaurants sell fish

I think that would be a viable solution
Nothing theoretically wrong with that, question is if it's legal.

In the US, according to FinCEN Final Rule, it's legal to use  it "to purchase real or virtual goods or services" and doesn't require licenses. However, if I'm a store and accept your BTC, I suppose I cannot sell the BTC, I'd have to use it to buy something as well, as to sell a virtual currency requires a money transmitter license.

Caution note: I'm not a lawyer, just a law student. Please for real business use, you should consult your legal counselor.