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Author Topic: Bitcoin Foundation receives cease and desist order from California  (Read 47687 times)
*Bob
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June 23, 2013, 03:51:50 PM
 #1

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

I think the State of California does not quite understand the function of the Bitcoin Foundation.
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TippingPoint
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June 23, 2013, 03:56:08 PM
 #2

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

California is officially evil (if there was any doubt).

California’s Department of Financial Institutions is the protector of inefficient banking monopolies.
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June 23, 2013, 04:01:25 PM
 #3

No wonder California is going bankrupt.
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June 23, 2013, 04:02:38 PM
 #4

..and so the freedom of speech and liberty in America continues.  If the current NSA scandal is not enough.  
I wonder what effect this will have on the BTC price.  So far it has been remarkably stable.

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June 23, 2013, 04:11:17 PM
 #5

It has to be a blanket action or else someone is smoking crack.

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June 23, 2013, 04:13:06 PM
 #6

Whats the big effing deal? The notice says "MAY be involved..." Bitcoin foundation is clearly not a money transmitter. The notice requests a response, which I am sure the Bitcoin foundation will no doubt easily provide. Case closed. Nothing to see here.

It is very easy for a "whistle blower", anti-bitcoin organization, or even a competing company (Citibank EasyPay service, or PayPal anyone?) to complain to the appropriate State board, upon which they will send out a generic letter as an "exploratory bite."


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June 23, 2013, 04:13:26 PM
 #7

NO! NO! what the hell is wrong with the Republic of California? Angry

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June 23, 2013, 04:14:33 PM
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Quote
Whats the big effing deal? The notice says "MAY be involved..." Bitcoin foundation is clearly not a money transmitter. The notice requests a response, which I am sure the Bitcoin foundation will no doubt easily provide. Case closed. Nothing to see here.

What if a small business without access to counsel receives such a notice? This is government bullying and is a big deal.

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
justusranvier
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June 23, 2013, 04:17:32 PM
 #9

What if a small business without access to counsel receives such a notice? This is government bullying and is a big deal.
Those starting small businesses, especially in the United States, should assume that even if they do everything possible to obey the law they might get shut down anyway.

The obvious response is to organize your venture in such a way that you can operate regardless of the legality of what you're doing.
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June 23, 2013, 04:19:42 PM
 #10

What if a small business without access to counsel receives such a notice? This is government bullying and is a big deal.
Those starting small businesses, especially in the United States, should assume that even if they do everything possible to obey the law they might get shut down anyway.

The obvious response is to organize your venture in such a way that you can operate regardless of the legality of what you're doing.
SR model is the way to go I suppose

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June 23, 2013, 04:20:10 PM
 #11

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Those starting small businesses, especially in the United States, should assume that even if they do everything possible to obey the law they might get shut down anyway.

The obvious response is to organize your venture in such a way that you can operate regardless of the legality of what you're doing.

I'm also talking about merchants accepting Bitcoins for payment of goods and services. If the BTC Foundation is a money transmitter, then evidently anyone can be.

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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June 23, 2013, 04:20:32 PM
 #12

The Bitcoin Foundation needs to move elsewhere.

☐ California
☑ Texas
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June 23, 2013, 04:36:20 PM
 #13

What does this mean? They want to make it so we can't transmit our coins? who do they think we are? Their nigger slaves?  Huh

The only reason I haven't moved out of the shit hole California is I still have a job here. Poverty except for the bribing monopolies.
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June 23, 2013, 04:38:19 PM
 #14

But the Bitcoin Foundation might indeed get in trouble now. ("You can't stop Bitcoin from operating? Well that's not our problem! Powerlessness is no excuse!")

They should've known before. Or they had balls. Additionally to the facing of all the adverseness from here.  Wink

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June 23, 2013, 04:39:33 PM
 #15

They probably thought the deep discount because McEnery Convention Center is under construction was good deal. Well that backfired! lol

This might actually be a good thing. TBF has been blustering for a while now about wanting to lobby Washington. Well here's their chance for a test case. All they need to do is prove to California govt that the membership of TBF does not run any money transmission business and they win. This could be the landmark case providing ammo to fight Washington. Or it could be that they are in way over their heads and didn't realize that Team San Jose is a government centric organization. lol

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June 23, 2013, 04:41:23 PM
 #16

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

I think the State of California does not quite understand the function of the Bitcoin Foundation.

Never underestimate the power of dumb officials.

If I were associated with the Bitcoin Foundation, I would've moved to a friendlier place. Once some of the prominent members of the Bitcion Foundation stared into a prison wall confined in a cell, it doesn't help if they're 50 times smarter and that they're right. The dumfucks will make the inconvenience of such a nature that it could be life altering, and not for the better - for those involved.

If some power figure doesn't like the Bitcoin Foundation, there's nothing they can do.

Stay anonymous, and stay under the radar is my suggestion.
nebulus
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June 23, 2013, 04:42:49 PM
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Looking forward to future developments regardless of outcome...

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June 23, 2013, 04:45:08 PM
 #18

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

I think the State of California does not quite understand the function of the Bitcoin Foundation.

Never underestimate the power of dumb officials.

If I were associated with the Bitcoin Foundation, I would've moved to a friendlier place. Once some of the prominent members of the Bitcion Foundation stared into a prison wall confined in a cell, it doesn't help if they're 50 times smarter and that they're right. The dumfucks will make the inconvenience of such a nature that it could be life altering, and not for the better - for those involved.

If some power figure doesn't like the Bitcoin Foundation, there's nothing they can do.

Stay anonymous, and stay under the radar is my suggestion.

No, don't stay under the radar. Rent a government convention center and rub their noses in it. lol

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June 23, 2013, 04:57:49 PM
 #19

Quote
Whats the big effing deal? The notice says "MAY be involved..." Bitcoin foundation is clearly not a money transmitter. The notice requests a response, which I am sure the Bitcoin foundation will no doubt easily provide. Case closed. Nothing to see here.

What if a small business without access to counsel receives such a notice? This is government bullying and is a big deal.


This happens all the time - and many business owners give up without a fight, when they see the resistance they're facing.
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June 23, 2013, 04:58:52 PM
 #20

Is the Bitcoin Foundation located in California?

The cease and desist letter was sent to an address in Seattle, Wa.
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