Q-I’ve been interested in possibly buying a Bitc oin casino but before I do so I want to make sure it’s legal to own one in the US. I noticed that theirs a ton of virtual casinos on facebook where you can buy tokens to gamble with and those are legal, the tokens can’t be withdrawn for cash thought not sure if thats why it’s legal. Now with Bitcoins I’m not aware of any laws on the books about virtual currency and online gaming. Is it legal?

 

A- A European court recently ruled that Bitcoin is a currency. With the recent jump in popularity of the issue, the question of whether it’s a currency in general (not just in relation to gambling) is sure to be litigated here soon. From a practical perspective, it’s a huge gamble (no pun) to invest in a business on very unsteady legal ground.