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A website to guide you on US Cryptocurrency Law

Jan 02, 2018 Posted /  9420 Views

A website to guide you on US Cryptocurrency Law

There are still very limited legal jurisdictions and regulations pertaining to Cryptocurrency and everything seem infuriatingly vague. The diverse aspects and approaches practised in US constitution starting from taxation to commodities, and everything seems imprecise, most of the time leading to contradictory statutes regarding digital currencies. Moreover, the Law reforms being implemented at a very sluggish pace, position of cryptocurrencies unlegislated and often anarchic. Most of the time cryptocurrency users hesitate in taking to legal procedures, as the ambiguity in law content is very much annoying. However, there is this new website called which assures to throw the much-needed transparency on the laws surrounding cryptocurrency.

Get your legal guidance

The newly launched website provides a storehouse of legal information, where the American citizens can search and get all the resources pertaining to digital currencies. The website will answer almost all FAQs and advance searches on Bitcoin. For instance, if you want to know how anti-money laundering laws can impinge on bitcoin, or how bitcoin can be utilized in real estate and its purchases, you’ll find the answer to your queries on this website. However, the website maintains that it does not purport any substantial legal advice, and the information provided is just a referral and not gospel. The website will provide an introduction to the basic US law and its impact on cryptocurrency user.

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The website is the brainchild of husband and wife team- Dave and Susan Berson. Susan Berson is basically a tax attorney and Dave is a technology enthusiast. Additionally, Dave has spent more than two decades as a business and banking attorney. Moreover, the couple is very proverbial about bitcoin as in 2013 Susan authored the initial article on the digital currency, which was published in the American Bar Association Journal Magazine. In fact, she also part of working on the American Bar Association’s subcommittee on Virtual Currency. The committee provides for the official tax observations on the IRS’s guidance on the taxation of virtual currencies.

A basic repository and not Specialist Crypto Lawyer has specified it that it can’t substitute the recommendations and counsel of a specialist attorney which means there is not money savior for startups needing legal advice Nonetheless, if you are a beginner and want to start about with investing in cryptocurrency, you will find great deal of information which will give you a basic foundation for any crypto-based venture in the US. Right now there is a great deal of anonymity regarding crypto transactions as SEC is shunning the security tokens by masquerading as utilities, and Local bitcoins sellers are being accused of frauds as they are operating without a money-transmitting license. The new starter can seem bewildered by the law most of the time.

The recent US tax law amendments are all the more frustrating, as it affects the bitcoin holders, which is why more people are turning towards sources who would provide them with some concrete information.  There are also some Subsections on the website which the beginners might want to familiarize themselves with like Bankruptcy, Commodities, Estate Planning, Securities, and Tax. No matter what your standpoint on taxation, governments, and disclosure of digital assets remains, it is pragmatic to be apprised of the law as such information could save your business and money one day.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: Cryptocurrency Law US Cryptocurrency

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