Quote from: EternalWingsofGod on August 10, 2014, 07:24:30 AM

Quote from: psudoBTC on August 09, 2014, 09:52:47 PM

Quote from: bigasic on August 06, 2014, 10:43:03 PM

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?

What laws do you think you might be breaking by doing this? I certainly can't think of any that you might be breaking.

If its a very large amount money laundering, transacting without a license, not declaring personal income and taxable income and similar sorts of things.
Probally the stuff they charge drug dealers with lol.

Selling BTC for cash does not break any of these laws. If you comply with AML laws when trading face to face then you have nothing to worry about. The OP did not say anything about failing to report large transactions nor did it say anything about not getting ID for trades.