California Sends a Cease and Desist Order To the Bitcoin Foundation

An anonymous reader writes in with bad news for the Bitcoin Foundation. "California's Department of Financial Institutions has issued a cease and desist letter to the Bitcoin Foundation for "allegedly engaging in the business of money transmission without a license or proper authorization," according to Forbes. The news comes after Bitcoin held its "Future of Payments" conference in San Jose last month. If found in violation, penalties range from $1,000 to $2,500 per violation per day plus criminal prosecution (which could lead to more fines and possibly imprisonment). Under federal law, it's also a felony "to engage in the business of money transmission without the appropriate state license or failure to register with the US Treasury Department," according to Forbes. Penalties under that law could be up to five years in prison and a $250,000 fine."

Comments

'Money changers' = 'Jews'

[Anonymous Coward]

Never forget that. It's the JEWS who are destroying your country - who runs your media, your Congress, who tells you what the 'truth' is every day on their T.V. stations, and through their (crappy) films? The JEW.

Re:Uh

[roman_mir]

No, the point is that the governments are fucktards that are lower that toilet scum and they should eat vomit, because they are intestinal indigestion matter.

Oh, and Bitcoin Foundation has NOTHING TO DO with Bitcoin transfers among people and even if they 'dissolve' Bitcoin transfers between people will not stop, nobody can stop them.