So if you're actively following news about Bitcoin you might have already heard that the Bitcoin Foundation, an independent member organisation promoting Bitcoin standards, has received a Cease and Desist letter from the State of California for unlawful conduct of money transmission business. It's important to note that this does not necessarily indicate wrong doing and would at face value seem to validate the argument that Bitcoin is considered at the government level, to be money which is a great vote of confidence for those utilising Bitcoin for business and digital transactions.
You can view the actual Cease and Desist letter here…
CA State Cease and Desist May 30 by Jon Matonis
And links to some of the most prominent articles and discussions about this on the web are listed below:
- [ARSTechnica] California sends a cease and desist order to the Bitcoin Foundation
- [BusinessInsider] Bitcoin Foundation Gets Cease-And-Desist Letter From California
- [Forbes] Bitcoin Foundation Receives Cease And Desist Order From California
- [TheVerge] California tells Bitcoin Foundation to stop trading or face a fine
- [Reddit] Discussion of Cease and Desist Letter
- [VentureBeat] Bitcoin Foundation comes under fire in California
- [Wired] California Says the Bitcoin Foundation is a Money-Transferrer