“2. The user is responsible to use the software in compliance with local laws. Don’t use the software if the usage is not legal in your jurisdiction.”
How do i go about finding out if using bisq is legal in my country (germany)? I’ve tried looking but i’m not really finding any official information. Especially with localbitcoins.com not being allowed, i’m unsure about the legal status of using bisq.
Any help is much appreciated!
Thanks
Well I guess you should read the law that forbids you the use of localbitcoins and check to see if this would apply to Bisq as well. The thing is, Bisq is quite different from other exchanges.
Although it probably wouldn’t be cheap, perhaps consulting with a lawyer might be the best idea here. If you can, you might want to check all laws regarding cryptocurrencies in your country.
Seems the problem with localbitcoins was them bringing buyers and sellers together through their platform while taking a fee for doing so. With bitcoin being seen as a unit of a account, rather than a currency, it seems to be subject for regulation and so exchanges are regulated by BaFin. But i don’t know how this relates to a decentral exchange.
Any germans wanna chime in?
To be honest honest; I don’t know why it should be illegal, because I know lots of Germans who buy BTC on other exchanges as well. Buying BTC in general is definitely not illegal here.
Localbitcoins - as you said - is a whole different story. But this is like eBay. They take a fee from the seller, and he sells a product to a buyer. To me it seems logical that then Bisq should be treated the same way.
Also, you’re pretty anonymous as Bisq uses Tor, so there’s little chance anyone will actually even know you purchased something over Bisq.
Cheers!
Big difference is that Bisq is not a company, not a legal entity. It is just open source software and it’s community.
Yeah, there is a small chance you will have problem using Bisq, but in future maybe authorities will start going into trades with users. Although costly and probably inefficient, it would increase the risk of using Bisq.
Hmm… Still pretty sure it’s not an issue at least here and now.
I mean, I’m allowed to buy something from my friend and giving him money for that directly, without any companies here.