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RE: Is trading on LocalBitcoins Illegal? What is Legal trading?
I guess it's that time where bitcoin finally finds it's place in the world. Must say that i preferred the old rogue-ish reputation of bitcoin but now law enforcement is starting to meddle that's a thing of the past.
You have it backwards. They're fighting now out of desperation. It was easy to dismiss bitcoin when it was only a few dollars, but now they're starting to understand that it's not stopping. These cases are completely without merit because bitcoin doesn't even fit their definition of money. The US government is like a dying dragon - its gonna die, but its death flailing is going to take some people out along the way.
It's also a good time for people to start paying attention to what approach they take to trading crypto currencies.
Definitely. Though in my country (the netherlands) even if you want to "play it straight" you cannot. On your taxes you can only list bitcoin's like an asset (gold, silver, etc). It doesn't even register as a fiat currency, which it kinda is nowadays.