Post
Topic
Board Legal
Topic OP
Is mining legal in US
by
reanor
on 03/02/2014, 16:39:23 UTC
So I did some reading, I don't know if anyone knows this but it appears that if you mine cryptocurrencies from US and then exchange them for cash or other currencies you fall under the "Exchanger" qualification and supposed to have an MTS license(?) - 'money transfer services license' or something like that?

So if you mine from US what do you do about that? Do you have a license? Do you submit your income on annual tax return form? Has IRS ever called you asked you to give them your money? I know that they don't really know yet how to qualify this type of income but they will definitely do it. So I am trying to figure out now either I need to get any license before I actually start doing some real mining and then submit income on tax return next year maybe?