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re: Bitcoin Casinos Release 2012 Earnings
Posted on 1/22/13 at 3:26 pm to WikiTiger
Posted on 1/22/13 at 3:26 pm to WikiTiger
quote:
The issue is proving the assets are "controlled" by the person in question.
Unless the person freely admits the control of $5k of bitcoins, how will the government know? Can they prove that person A has control of $5k in bitcoins? It would be an extremely difficult task to do so.
And as I stated earlier, anonymity is possible if a person chooses to take the steps required.
Remember, there are no "bitcoin accounts." There is no need for personal information to be used when controlling bitcoins. Even if you can be identified at the point of exchange, there is nothing to prevent a person from sending those bitcoins to other addresses they control. That can make financial forensics very difficult.
Very interesting set of issues bitcoins present from a legal standpoint. I don't know that I'd want to base any contracts off of bitcoin payment.
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