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My question is this: Given all the regulations in the USA, is it legal for me to start my own litecoin mining pool here in the US?
Is it legal to start a Litecoin mining pool in the US?
Answers
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There is nothing illegal in the process of mining litecoins or bitcoins.
As far as cryptocurrnecies concern, you should be worried about "money transmition" and "money laundering". If you do not hold other people's coins you are not breaking any laws.
I really wish I had the answer to this. I also don't think the question has been answered in general yet. – Deryck – 2014-02-02T04:14:06.617
1US Treasury confirms Bitcoin miners and investors won't be regulated But don't use this comment as actual legal advice. – John T – 2014-02-02T09:36:31.803
3This is a q&a site populated by random people from the internet, and you expect trustworthy legal advice? No, what you need is a lawyer. – Nate Eldredge – 2014-02-02T15:59:33.077
4This question appears to be off-topic because it is asking for legal advice. – Nate Eldredge – 2014-02-02T16:00:02.547
The question might be mostly on legal matters, but definitely is something that pertains to all crypto-currencies, not just to Litecoin (nothing in Litecoin would merit treating it differently than Bitcoin). A way to answer would be to search - are there any mining pools operating physically from servers in the States? In which case, their managers could answer it. I believe slush's and Luke-Jr's are, but not sure. – Joe Pineda – 2014-02-03T00:07:59.520