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Author Topic: Risk Factors re: Facebook Credits from Facebook's S-1  (Read 788 times)
Stephen Gornick
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February 06, 2012, 09:15:56 PM
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Patrick Murk (@VirtuallyLaw) points out parts of Facebook's S-1 (registration with the SEC) related to its currency that appear under the Risk Factors section.  Of particular interest to Bitcoiners might be:

"Depending on how our Payments product evolves, we may be subject to a variety of laws and regulations in the United States, Europe, and elsewhere, including those governing money transmission, gift cards and other prepaid access instruments, electronic funds transfers, anti-money laundering, counter-terrorist financing, gambling, banking and lending, and import and export restrictions'.

"To increase flexibility in how our use of Payments may evolve and to mitigate regulatory uncertainty, we have applied for certain money transmitter licenses and expect to apply for additional money transmitter licenses in the United States, [...]"

[See page 34 of the Feb 2012 Digital Gold Currency magazine:
 - http://www.dgcmagazine.com/PDF/52-Digital-Gold-Currency-Mag-February-2012.pdf ]

And related:
- http://kevinflood.blogspot.com/2012/02/what-facebooks-s-1-filing-reveals-about.html
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Stephen Gornick
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February 21, 2012, 10:47:18 PM
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"Facebook Fast-Tracks Its Payments Business"
- http://www.americanbanker.com/issues/177_35/facebook-credits-money-transmitter-license-bank-regulation-1046825-1.html


And a related thread here:
 - https://bitcointalk.org/index.php?topic=64326.0
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