Monday, June 24, 2013

Nathan Mattise — California sends a cease and desist order to the Bitcoin Foundation

Licensing is required for money transmissions in-state; Bitcoin denies such activity.
California sends a cease and desist order to the Bitcoin Foundation
Nathan Mattise
(h/t Yves Smith at Naked Capitalism)

Collison course.


Ryan Harris said...

The action shows how dense bureaucrats are to technology. The 'transfers' are peer to peer without intermediaries. That is sort of the point of bitcoins, isn't it! Th BTC Foundation never has legal 'possession' or 'control' over funds and they do nothing to facilitate the transaction. The fx exchanges are the only ones that can be controlled because they interact and use regulated government fiat and interact with the formal financial system.

James said...

I didn't know where else to post this, so I'll just leave it here. I saw this report, and it looks like some Republicans now have disability benefits in their sights.

It's the same type of nonsense we've seen in the UK with the last few governments, but became even more intensified with the recession, harking back to the days of deserving and undeserving poor. Of course they throw in some scare mongering about the program becoming insolvent as well.

Tom Hickey said...

The claim is that most people on disability are faking it. There is some truth to that, but it's blown way out of proportion. For everyone that gets through the gate, there are plenty of people who are actually disabled that get turned away. It's not an easy process to navigate. And they have people checking up.

Ryan Harris said...

If the government cuts away disability, I predict we will finally see open insurrection and huge rise in crime. The disability check buys loyalty from people that have nothing else to lose from regime change.

When it is gone, the only avenue for people to have a better life and provide for themselves and their families is to remove the barriers that are holding them back. We are back to 1920's style poverty because welfare is gone and this is all that is left.