2013-06-23 Forbes - Bitcoin Foundation Receives Cease And Desist Order From Ca

[labestiol]

http://www.forbes.com/sites/jonmatonis/2013/06/23/bitcoin-foundation-receives-cease-and-desist-order-from-california/

Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, California’s Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization.

... Then, they fight us ...

[MPOE-PR]

http://www.forbes.com/sites/jonmatonis/2013/06/23/bitcoin-foundation-receives-cease-and-desist-order-from-california/

Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, California’s Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization.

... Then, they fight us ...

They don't fight "us". They fight a despicable scam, in this case.

[niooron]

It's just some idiot government critter thinking the foundation is something like "Bitcoin Corporation".
It would be fun watching the foundation be disbanded anyway.

[NewLiberty]

http://www.forbes.com/sites/jonmatonis/2013/06/23/bitcoin-foundation-receives-cease-and-desist-order-from-california/

Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, California’s Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization.

... Then, they fight us ...

They don't fight "us". They fight a despicable scam, in this case.

So if the foundation does file, pays the US$5K, and gets this license.  Do we all become "agents" or "affiliates" acting under this license?
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=fin&group=01001-02000&file=2000-2003

[btceic]

Ill be honest, they are really starting to clamp down hard in the U.S and is making me nervous.

[empoweoqwj]

This is big. Why is this news only leaking out now 

[Raoul Duke]

Oh! Good. Let them kill the bitcoin corp... Right?
Hey! Right?

[MPOE-PR]

So if the foundation does file, pays the US$5K, and gets this license.  Do we all become "agents" or "affiliates" acting under this license?
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=fin&group=01001-02000&file=2000-2003

That'd be just the point where the scam unravels.

No, MPEx does not recognize any relation between Bitcoin and this so called "foundation".

[doom309]

many people gave donations to the bitcoin foundation, perhaps this move by govt is just an idea theyve come up with to "tax" those naughty bitcoin users ...

[jgarzik]

Ill be honest, they are really starting to clamp down hard in the U.S and is making me nervous.

With this exception of this California action, everything else in the US has been completely consistent with existing US law.

[jgarzik]

It's just some idiot government critter thinking the foundation is something like "Bitcoin Corporation".

Correct.

It would be fun watching the foundation be disbanded anyway.

Most of the forum idiots here do not seem to realize that the Bitcoin Foundation is taking slings and arrows on behalf of others, fighting for bitcoin acceptance.

When you fight for bitcoin, people fight back.

It would be a loss for all if the Bitcoin Foundation goes away.

[btceic]

Ill be honest, they are really starting to clamp down hard in the U.S and is making me nervous.

With this exception of this California action, everything else in the US has been completely consistent with existing US law.

I am speaking of the recent developments with the IRS and FinCen along with this as well as the numerous services surrounding bitcoin that have gone down.

I will edit this post with links if you guys need them.

[btceic]

It would be a loss for all if the Bitcoin Foundation goes away.

It would be a huge loss IMO as well.

[jgarzik]

Ill be honest, they are really starting to clamp down hard in the U.S and is making me nervous.

With this exception of this California action, everything else in the US has been completely consistent with existing US law.

I am speaking of the recent developments with the IRS and FinCen along with this as well as the numerous services surrounding bitcoin that have gone down.

As am I.  Recent developments with the IRS and FinCEN are entirely consistent with US law as it has existed for years.  Ditto Mutum Sigillium seizure warrant. Tax and MSB implications were directly addressed years ago in my State of the Coin 2011 presentation, among others.  If you operate outside the law in your jurisdiction, the obvious result occurs... eventually.

There is no question that US authorities are ramping up enforcement of existing law.

[btceic]

Ill be honest, they are really starting to clamp down hard in the U.S and is making me nervous.

With this exception of this California action, everything else in the US has been completely consistent with existing US law.

I am speaking of the recent developments with the IRS and FinCen along with this as well as the numerous services surrounding bitcoin that have gone down.

As am I.  Recent developments with the IRS and FinCEN are entirely consistent with US law as it has existed for years.  Ditto Mutum Sigillium seizure warrant. Tax and MSB implications were directly addressed years ago in my State of the Coin 2011 presentation, among others.  If you operate outside the law in your jurisdiction, the obvious result occurs... eventually.

Then I must be confused with the state of things then. I was under the impression that the recent IRS (or was it FinCen??) ruling/statement was that mining bitcoins will/may require an MSB/MT licensure.

I could be wrong and hope I am, I am not trolling I truly want to know.

[melvster]

http://www.forbes.com/sites/jonmatonis/2013/06/23/bitcoin-foundation-receives-cease-and-desist-order-from-california/

Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, California’s Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization.

... Then, they fight us ...

I was thinking about joining this ... but if they are breaking the law, that's a disincentive. 

Perhaps we should find a way to give donations without going through a third party ...

[CurbsideProphet]

I posted this is the general thread but will leave this here as well:

http://www.scribd.com/doc/149335233/CA-State-Cease-and-Desist-May-30

[Singlebyte]

Why would an association need a license to be a money transmitter?  The association is not doing anything illegal by any standards?    Just crazy....

[Gabi]

And so it begins...

Yeah well, not that the bitcoin foundation is related to bitcoin anyway

[MPOE-PR]

I was thinking about joining this ... but if they are breaking the law, that's a disincentive.  

Perhaps we should find a way to give donations without going through a third party ...

There's this fabulous new tech thing called Bitcoin. You should check it out sometime.

It would be a loss for all if the Bitcoin Foundation goes away.

It would be a huge loss IMO as well.

Not hardly. On the balance of things the pretenders have done marginally more damage than useful things for BTC, and that before the recent nonsense.

Most of the forum idiots here do not seem to realize that the Bitcoin Foundation is taking slings and arrows on behalf of others, fighting for bitcoin acceptance.

When you fight for bitcoin, people fight back.

It would be a loss for all if the Bitcoin Foundation goes away.

Most people here DO realize that the pretend-foundation has a chairman that's also the treasurer.

Most people here DO realize that the pretend-foundation has been swindling the community out of "donations", but it has yet to publish its finances.

Most people here DO realize that the pretend-foundation has no particular relation to Bitcoin, but it is using the pretense of such a relation to sell "credibility" to various scams. Like MtGox, like BFL, like etc.

What some people here do not realize (and yes I mean you) is that by standing up for scammers you end up just as fucked as they are. Find a better hobby.