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110 sats \ 4 replies \ @2big2fail 19 Jan 2023
one thing never discussed is "selling kyc sats"
i personally love to buy KYC sats but would never ever sell any meaningful sats KYC free with fear that my counterparty is a fed
who are these brave soles willing to engage in such risky business of selling KYC free
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0 sats \ 0 replies \ @Jonathan_Adly 19 Jan 2023
Selling BTC for cash with a peer is the same as selling a bushel of wheat for cash with a peer. Not illegal. If you don't report the profits - the IRS will come and knock at your door. But - Peer to Peer exchange of goods is common and impossible to make illegal.
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0 sats \ 0 replies \ @Zepasta 19 Jan 2023
I heard a lot of people saying their bank accounts (specially Revolut) froze their accounts because they were selling P2P bitcoin/crypto. It's a big risk if true.
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0 sats \ 1 reply \ @pillar 19 Jan 2023
I need to ask: leaving aside the highly unlikely chance that you will have a fed as a counterparty in a regular P2P trade, how would that be a problem? As far as my knowledge goes, there is no law in the US preventing two poor souls from exchanging BTC and $ freely, is there?
I understand the IRS will be after you if you don't pay your taxes on it, but isn't the P2P trade itself a completely innocent event in legal terms?
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0 sats \ 0 replies \ @2big2fail 19 Jan 2023
i'm no legal expert but would avoid even the remote possibility of being deemed an illegal money transmitter https://dilendorf.com/resources/is-defi-legal-in-the-us.html
law enforcement loves to make examples of little fish
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0 sats \ 0 replies \ @pillar 19 Jan 2023
Great work. Bisq is such a nice piece of work waiting for more people to discover it.
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