Tag: Money Transmitter

FinCEN Labels ICOs and ICO Token Trading Platforms as Money Transmitters

It seems a very important piece of news has flown under the radar of cryptocurrency enthusiasts and experts. In a letter from February, FinCEN makes it clear they do not take kindly to ICOs or any platforms supporting this business model. In fact, they would prefer if all ICOs registered as money services businesses. It’s an interesting approach that could easily destroy the ICO industry as we know it today. FinCEN and …
[Read More]

Reselling Bitcoin on LocalBitcoins Is A Lucrative Business

Getting involved in the Bitcoin world can make for a very lucrative business. For most people, buying Bitcoin remains a key problem, and they will often rely on friends or family to help them out. This allows for some passive income by buying and selling Bitcoin. However, some people are earning as much as 20% markup by using exchanges and LocalBitcoins to automate most of the business. Making Money With …
[Read More]

Centralized Exchanges Hamper Global Bitcoin Growth

Consumers all over the world are struggling with the concept of buying Bitcoin in a convenient manner, and the limited availability of exchanges in particular regions is only making matters worse. This is all part of the reason real peer-to-peer exchange platforms are so direly needed in the world of Bitcoin and digital currency. Also read: Ethereum Technical Analysis for 04/09/16 – Head and Shoulders Centralized Bitcoin Exchanges Are A …
[Read More]

Is It Legal To Run A Bitcoin Faucet As US Citizen?

The concept of a Bitcoin faucet is quite appealing, as it would provide people with a platform to distribute bitcoins and earn some money through advertising networks such as Google AdSense. However, some countries may look upon this type of activity as money transmission, just because people are giving away money to others without going through established financial institutions. Luckily, states like New York – where Bitcoin regulation is in …
[Read More]