Interesting. So...just btc/gbp issue, or coming after all exchange involving btc as the payment method? I suspect just cash trading atm, but you know where this leads.

All bad news again, soveng 2 ptsd setting in. In general terms if what you offer is all vetted (KYC,…) on the market than in theory getting all the paperwork jazz so the government allows you to opperate is doable. If you just host a sovereign market things immediately are an us vs them.

Ahhhh I still reminisce about the inspiration I got from the insanely optimistic bubble of the SEC… everyone should experience it In the article “money laundering” is their excuse @Susie Violet makes a good point “Individuals trading with one another can find everyday activity interpreted as unlawful once it reaches meaningful scale.” I’m just thinking of A Lodging of Wayfaring Men

Optimistic yes, being brought extensively aware about cruise missiles and the gov very long stick also yes 😄

Seems like BTC has a chance to be okay. Stablecoins too. I think a potential framework to focus on is that we are facilitating barter of legal property between lawful citizens. Nothing more. View quoted note →

Good response this:

I think in this case we should not conflate “p2p crypto trading” (which means literally exchanging one crypto for another on a decentralized exchange- a highly regulated activity) …with “trading goods and services for p2p digital money” (which means basically bartering legal property for goods or services) The word “trading” is the hot one and I am not worried about the way they are using it. Though it sucks for those operators

Agreed. What do you think of the barter framework sir?

Not sure what you mean. What I can say is I won’t be going to England for the foreseeable future.

So than it is actually an attack at the “platform” operators that probably would have had to apply with KYC even under P2P regulations according to AML reg.

Is it reasonable to say we are facilitating barter if the government considers BTC property (property for property / services)

I think the idea is just that BTC is property and in common law jurisdictions you largely have an inalienable right to dispose of your property how you want. It’s not really barter, in the sense that word is usually used, just that the gov’t cant usually prohibit you from, e.g., selling your lawnmower to your neighbor. Whether you have tax obligations or whatever thats a separate issue, but they cant typically prohibit p2p exchanges of property.

Thx that’s very helpful