I was wondering if its legal to sell bitcoins for cash in person using localbitcoins? I think it would be if I declared all income on my taxes. I wouldn't be a money transmitter as I would be receiving or giving the cash directly/in person. What are your thoughts on this?
It's "property" which can be sold like any other -- house, car, personal belongings. You're supposed to pay taxes (it sounds like you are in the USA, so likely capital gains would be the most sensible way to report), but obviously this is difficult to enforce with cash. If it were illegal, I suspect LBC would be hearing from the US government, considering the number of US residents that use it.
