Hey Everyone, long-time lurker and huge BCH fan here. I've been around in the crypto space since 2012, and have had an incredible time since then. When things started to turn in 2015, I felt hugely disappointed by BTC, the other sub, the previously lively BitcoinTalk, and the like.
BCH is what Bitcoin was always meant to be, so when the community started to pick up again, I felt the same sense of excitement from back in the day. I think a lot of us remember what it was like to be in the middle of such an enormous amount of change, equal parts exciting and awesome.
Now that the community is back and thriving, 2 months ago I decided to write an app to try to give back. I don't expect to really make anything off of it, but I consider it something to add to the pile of already great apps out there. When it's actually out there, I'll make PRs to devs.cash and acceptbitcoin.cash (and make an announcement of course), but until then, I need some help!
The code itself is 100% ready to deploy (v1.0 achieved!), but I'm completely stuck on the business/legal side of things. The app:
- Is based out of the US
- Accepts BCH in exchange for API credits on my service (automated)
- Does not require any information at all (names, emails, etc.)
- Assigns each individual user a unique wallet (processed funds, IE funds that have been converted to API credits, are moved to cold storage daily)
My questions:
- What do I need to require in terms of accepting payment? Do I need to form an LLC and simply track payments in a unique cold storage wallet (for tax purposes)?
- Am I obligated to provide some privacy policy, even though I'm not accepting any info from clients?
I suppose it's simply a question of accepting crypto as payment in return for a service in the US. It's been difficult to find any real answers. Would I be better off accepting BCH via another platform (and letting them do the processing, tax documentation, etc.) instead of doing it directly?
Thanks in advance, keep on keeping on!
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source https://www.reddit.com/r/btc/comments/971avs/questions_regarding_starting_a_business_accepting/
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