localbitcoins is online bank transfers only, as far as i can tell by looking at the site. Local monero has like 5 sellers (probably all feds)
Are any IRL crypto transactions legal? If you can be arrested for trading crypto for cash, is trading them for anything else legal?
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Land of the free
Go to Bitcoin conferences and meet people, you’ll find what you need
What was she arrested for
buy from people directly. buying and selling is not illegal.
This
This is an old story but i doubt its the only case of this happening. Usually press doesnt even cover small crimes like this
>Bitcoin Maven” Sentenced to One Year in Federal Prison in Bitcoin Money Laundering Case
google her name
There's still pic related ... I've never used one though.
The "Bitcoin Maven" was arrested because she was running an unlicensed bitcoin exchange business.
I don't know where the line is drawn (perhaps it's a gray area), but I think it's not unlike selling a used car.
I can sell a car to you as a private seller, no big deal, and I can even take out an ad on craigslist saying I have a car for sale. But I can't set up shop and open a used car lot on my front lawn and start buying and selling cars without first registering the business and following whatever laws are involved in running a used car lot.
So I THINK it's legal to sell your bitcoin to someone in a private deal, but at some point (some volume of transactions or money) it becomes a monetary exchange and must follow the laws for that type of business.
Also - according to the court documents, one of the undercover agents in the Bitcoin Maven sting told her that he was selling bitcoin obtained through narcotics trafficking. So that case wasn't really about "buying bitcoin" but about catching someone knowingly running a money laundering business.
Yes. There’s still some Bitcoin kiosks here and there. You’re limited on total amounts and what not but you can still buy with cash.
When I was looking into running an IRL XMR exchange I found the same thing: there's a bunch of laws and regulations on the business, you have to get licensed at the state and federal level, and you have to do KYC/AML bullshit. It basically makes it not worth doing legally. What makes more sense, in my opinion, is getting registered as a payment processor and setting up all the local businesses so they can accept crypto payments. Still legal hoops to jump through but it's probably more profitable and better for driving adoption.
I tried to use a bitcoin ATM. you have to create an account, show a drivers license, and a bunch of other personal info. And then there is a high fee for actually using it. I really dont understand the point
I dont think saying he was using it for drugs is the important point. There are other cases and virtually all of the crypto for cash traders are gone now.
>But I can't set up shop and open a used car lot on my front lawn and start buying and selling cars
not sure thats true. Building a car lot would annoy neighbors, but i know people that run sizable businesses from their garages. You want to register a business for tax reasons, but you dont have to
Anyway the point is no one can easily find people to trade for cash
Would you, Any Forums?
Nope, because its a financial nightmare for the government and credit companies. Illegal funds converted to crypto are pretty hard to recover.
>no way to conduct legitimate business
i want to die
try out benzbulls you might get some pussy benzbulls.com
It's not illegal to buy crypto for cash so long as you're not assisting in or participating in money laundering which is what she was arrested for.
Basically sellers on illegal markets need to trade their dirty crypto for cash and sell it for a reduced price (say 20%) below current market value. What the buyer can then do is sell it on an exchange for consistent profit.
>tfw you now remember this movie from your childhood
Bros is this where trannies come from?
unironically go read a book
Yes. Yes it is.
dumb bitch should have used Monero