Daily MailThe Bitcoin Boozer: East-London pub becomes first to accept the virtual currencyDaily MailBitcoin is a form of tender which can be bought and sold on a peer-to-peer network independent of any central control. The Pembury Tavern in Hackney, ea…
CoinDesk – State of California’s “Spray And Pray” Hits Bitcoin Foundation:
Reporter Danny Bradbury (@DannyBradbury) of CoinDesk.com (@CoinDesk) describes the cease and desist (C&D) order given by the State of California’s financial regulator, Department of Financial Institutions (@CaliforniaDFI), to the Bitcoin Foundation (@BTCFoundation). Excerpts:
“The letter said that the Bitcoin Foundation may be a money transmission business (MTB), and threatened it with fines and jail time.”
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“The letter, signed by Paul Clayton, senior counsel at the Department of Financial Institutions (California’s financial regulator), gave the Foundation 20 days to respond, although it was only received last week. The Foundation is drafting its response with legal firm Perkins Coie this week.”
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“The language in the letter (which didn’t directly accuse the Foundation, but suggested it ‘might be’ an MTB), indicated that the letter might be a fishing expedition said [Bitcoin Foundation General Counsel Patrick Murck]. The use of cease and desist letters is an easy way to cast the net, he argued.”
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“This ‘spray and pray’ approach to regulating businesses could dampen the prospects for bitcoin-based businesses in the long run, warned Murck.”
– http://bit.ly/1ccDgjE
– http://bit.ly/14rPvGt (Cease and desist order)
– http://bitcointalk.org/index.php?topic=241626.0 (Further discussion of this article)
All News – Daily E-mail Subscription – Twitter: @BitcoinNews
CoinDesk – State of California’s “Spray And Pray” Hits Bitcoin Foundation:
Reporter Danny Bradbury (@DannyBradbury) of CoinDesk.com (@CoinDesk) describes the cease and desist (C&D) order given by the State of California’s financial regulator, Department of Financial Institutions (@CaliforniaDFI), to the Bitcoin Foundation (@BTCFoundation). Excerpts:
“The letter said that the Bitcoin Foundation may be a money transmission business (MTB), and threatened it with fines and jail time.”
–
“The letter, signed by Paul Clayton, senior counsel at the Department of Financial Institutions (California’s financial regulator), gave the Foundation 20 days to respond, although it was only received last week. The Foundation is drafting its response with legal firm Perkins Coie this week.”
–
“The language in the letter (which didn’t directly accuse the Foundation, but suggested it ‘might be’ an MTB), indicated that the letter might be a fishing expedition said [Bitcoin Foundation General Counsel Patrick Murck]. The use of cease and desist letters is an easy way to cast the net, he argued.”
–
“This ‘spray and pray’ approach to regulating businesses could dampen the prospects for bitcoin-based businesses in the long run, warned Murck.”
– http://bit.ly/1ccDgjE
– http://bit.ly/14rPvGt (Cease and desist order)
– http://bitcointalk.org/index.php?topic=241626.0 (Further discussion of this article)
All News – Daily E-mail Subscription – Twitter: @BitcoinNews
Bitcoins for beer now in the UKMind Of The GeekBitcoins can now buy you a fresh pint of your favorite ale, that is if you live in the UK. The Pembury Tavern in Hackney, East London, and its other locations in Cambridge, Norwich, and Peterborough, are n…
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Bitcoins for beer now in the UKMind Of The GeekBitcoins can now buy you a fresh pint of your favorite ale, that is if you live in the UK. The Pembury Tavern in Hackney, East London, and its other locations in Cambridge, Norwich, and Peterborough, are now accepting the virtual currency for your ...and more » |
By the end of the Porcfest, it has become clear that Bitcoin has become a …The post Bitcoin at Porcfest, Part 5: Conclusion appeared first on Bitcoin Magazine.
By the end of the Porcfest, it has become clear that Bitcoin has become a …
The post Bitcoin at Porcfest, Part 5: Conclusion appeared first on Bitcoin Magazine.
An article on Forbes.com by Bitcoin Foundation Board Member and Secretary Jon Matonis announced today …The post California Accuses Bitcoin Foundation of Unlicensed Money Transmission appeared first on Bitcoin Magazine.
An article on Forbes.com by Bitcoin Foundation Board Member and Secretary Jon Matonis announced today …
The post California Accuses Bitcoin Foundation of Unlicensed Money Transmission appeared first on Bitcoin Magazine.
RTBitcoin starts to grow up with a quasi pegRTThe outcry heard from Bitcoiners is that any price peg destroys what Bitcoin stands for. This is untrue, but it sounds nice. Just like stakes are used to support young trees as they grow to keep them growin…
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Bitcoin starts to grow up with a quasi pegRTThe outcry heard from Bitcoiners is that any price peg destroys what Bitcoin stands for. This is untrue, but it sounds nice. Just like stakes are used to support young trees as they grow to keep them growing straight, Bitcoin needs similar support at ... |