basedorbit

Wow, if I were to not get a money transmitter license and just receive the money via paypal buy the bitcoin send it to him keep the $250 and if the money is not linked to some form of criminality from an investigation…

If my paypal didn't get locked and this all worked, would I get in trouble for any money laundering issues or can I just tax my $250 profit and be done with it on the tax side of tihngs.

Do you think I would need a business paypal account to conduct this or would a personal be ok? Again, the person im dealing with is completely trusted, the problem im facing is taxes and would paypal shut me down.

In this transaction there is no fraud completely trusted individual. Since I am sending $4750 in BTC and receiving $5000 in paypal I would only need to pay taxes on the $250 prrofit I receive per day, correct?

So here's the deal. I'm selling bitcoin to someone I trust, and he pays me via PayPal. He's planning to send me $5,000 daily, and I'll be sending him $4,750 in bitcoin each time, pocketing $250. Do I need a license to…