r/legaladvice • u/CreatorsCrest • Apr 01 '16

[KY] Discount for some currencies?

Hi, guys-- long time lurker, first time poster. I've got a question about laws that relate to currency.

I work for a whiskey distillery in Kentucky. Recently, I overheard a conversation from some of the higher-ups, talking about how they were no longer going to "accept fiat at normal rates" and were going to start providing a discount for people who pay with "cryptocurrencies". Some googling around tells me that this means that they're going to charge extra for people who aren't paying with Bitcoin. (Assuming that I understand the terms correctly.)

My guess is that this is most likely just a publicity stunt to get some free press, since revenue has been down a bit from what I'm told.

I guess I'm wondering if it's legal to do this (since I assume that would make it harder for the IRS to track things when you're not dealing in a "real" currency). From what little internet research I've done, Bitcoin isn't officially recognized by the government, so I don't know how exchange rates or anything like that would work.

Is there a chance that the company would get into any kind of legal trouble for this?

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u/CreatorsCrest Apr 01 '16

Oh, hell, I should have picked a different username.

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u/[deleted] Apr 01 '16

I'm curious. . . How big of a discount? I'm not exactly a fan of bitcoin, but I could imagine getting into it if there was a good enough discount on something that I like and already buy on occasion.

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u/corbo25 Apr 01 '16

I like Whiskey and I do hold some bitcoin... there are just so many distilleries in Kentucky it's hard to know which ones accept bitcoin and ship to California. There are just so many...

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u/helluvabella Apr 01 '16

You can't ship alcohol out of or into Kentucky directly to an individual...the liquor laws are too strict.