# Gavin Andresen
# 2014-12-10 20:03:02
# https://bitcointalk.org/index.php?topic=888727.msg9800154#msg9800154

@s{quotedtext}
@s{quotedtext}
 @p{brk}
I am not a lawyer, but... @p{brk}
... the money transmission laws and regulations are written very broadly. They almost certainly apply even if you are exchanging one crypto-currency for another, and no "real money" is involved. @p{par}

The only saving grace is that the laws only apply if you are operating "a business" @p{--} so occasional lowish-value person-to-person exchanges done as a favor to friends at no markup from the current exchange rate is probably perfectly legal. @p{par}