25 Oct '12, 4am
Irony of Australian e-currency laws #bitcoin
my reply is from the mind of a Brit, just so your warned. one thing the articles the OP linked totally misses out on bitcoin as its own entity where for instance you mine coins. buy stuff online with only coins and never ever swap for fiat. most, probably all countries AML laws don't apply. as its not treated like a currency I know that is the case for UK.and we have E-Money legal definitions too which don't apply to bitcoin as a separate entity. so if you have been scammed or use your mined coins on drugs/gambling sites illegally in the UK. The FSA cant touch you under AML. but that being said, be careful of the cyber crimes/Scotland yard as that's a different matter and they would be knocking at your door. if they find you that is. But AML does become more relevant in relation to FIAT-> BTC exchanges. in the US for instance, I am learning they want to know both the comin...