24 Jun '13, 1pm

Bitcoin Foundation Receives 'Cease and Desist' Request

Not-for-profit organization the Bitcoin Foundation has been sent a "cease and desist" letter from California's financial regulator for allegedly engaging in money transmission without a license, according to one of the foundation's senior members. The California Department of Financial Institutions mailed the warning following a bitcoin conference event in San Jose last month, according to Jon Matonis, a member of the Bitcoin Foundation and an e-money researcher. (Read More : How Bitcoin Is Sacrificing Its Soul to Survive ) "At this stage, it's difficult to tell whether or not it was a general blanket action and if other Bitcoin-related entities received cease and desist letters from California. If Bitcoin Foundation was not the only recipient, then expect other companies to come forward in the days and weeks ahead," Matonis said in his regular column for Forbes magazine o...

Full article: http://www.cnbc.com/id/100838553

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Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, Ca...

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Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, Ca...

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Credit: CASASCIUS/wikimedia California's message to Bitcoin supporters: if you "may be" doing the crime, we'll tell you wh...

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The California regulator that oversees the state’s banks, money-transmitters and credit unions thinks the nonprofit organi...

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The California regulator that oversees the state’s banks, money-transmitters and credit unions thinks the nonprofit organi...

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California's Department of Financial Institutions has issued a cease and desist letter to the Bitcoin Foundation for "alle...

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news.cnet.com 24 Jun '13, 1am

The Bitcoin Foundation, a nonprofit organization devoted to promoting best practices for the virtual currency, has been or...