Does anyone know about FIRCEN localbitcoin regulations? Let's not make that the tax evasion to our Al Capone

What are the fircen regulations for buying and selling? I heard if someone is not a registered (probably the majority of LocalBitCoins)MSB they cannot transact more than $1k a day. Does anyone have more info on this? I would hate for anyone to go down because they violated fircen regulation on LBC.


Comments


[2 Points] asdfaf21:

Find a reliable person on site, do a few transactions, then always work off site, sending directly to a local wallet client, paying in cash.

As far as anyone besides the two of you is concerned, none of those transactions ever took place. Therefore, no regulations to break, or taxes to evade


[1 Points] c8Asth9me:

That's accurate. No more than $1000/day