03 Jun '13, 5pm

Bitcoin service suspended by state of Virginia

Effective the May 31st, 2013 Tangible Cryptography has suspended new purchases of Bitcoins through our service FastCash4Bitcoins. We take this step in response to a notice received, the same day from the Commonwealth of Virginia, that a complaint has been made that our company is operating as an unlicensed money transmitter. The Virginia Corporation Commission did an initial investigation in response to the complaint, and determined that our activity may constitute money transmission under Virginia law. The Commission's initial assessment has factual errors which we intend to address. The notice indicated that it appears that our company is issuing Bitcoins through the use of the website https://fastcash4bitcoins.com , which may constitute "selling or issuing stored value" under Virginia law. As our clients are well aware this is simply an incorrect assessment of our busin...

Full article: https://bitcointalk.org/index.php?topic=224057.0

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