Quote:
Originally Posted by mayabong
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Did you even read it? did you understand it?
It basically clarifies that most exchanges from bitcoins to/from real currency are considered a "money transmission services"... so they are regulated under current "money transmission services" laws and so anyone exchanging bitcoins has to jump through major hoops, follow the law to the dot, register with the state, etc... (basically same kind of business and level of compliance that paxum has to go through)
so now for example selling bitcoins on ebay = illegal (unless you are properly registered, etc)