Silvia
Fri Jul 05 2024
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6 answers
865
Is cryptocurrency a money transmission in Tennessee?
In the realm of <a href="https://www.btcc.com/en-US" title="cryptocurrency">cryptocurrency</a> and finance, a pivotal question arises: Is cryptocurrency classified as a money transmission in the state of Tennessee? This inquiry holds significant implications for both businesses operating within the crypto sphere and individual investors alike. Clarifying the legal status of crypto in Tennessee is paramount for ensuring compliance with local regulations and avoiding potential legal pitfalls. Given the ever-evolving nature of cryptocurrency legislation, a comprehensive understanding of its legal classification in the state is crucial for navigating the complexities of the crypto market.
Leonardo
Sat Jun 08 2024
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5 answers
1063
Is cryptocurrency legal in the USA?｜The sale of cryptocurrency is generally only regulated if the sale (i) constitutes the sale of a security under state or federal law, or (ii) is considered money transmission under state law or conduct otherwise making the person a money services business (“MSB”) under federal law.
Could you clarify the legality of cryptocurrency in the United States? I've read that the sale of cryptocurrency is typically only regulated when it involves the sale of securities under state or federal laws, or when it's considered money transmission under state law, or if it otherwise qualifies as operating a money services business federally. However, I'm still somewhat confused about the exact legal status of cryptocurrency transactions in the US. Could you please elaborate on this matter?
