June 24, 2013 AT 5:00 am
Bitcoin Foundation Receives Cease And Desist Order From California – Forbes
Bitcoin Foundation Receives Cease And Desist Order From California @ Forbes.
Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, California’s Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization.
Probably OK to still mine your own coins with PiMiner 🙂
Check out all the Circuit Playground Episodes! Our new kid’s show and subscribe!
Have an amazing project to share? Join the SHOW-AND-TELL every Wednesday night at 7:30pm ET on Google+ Hangouts.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Learn resistor values with Mho’s Resistance or get the best electronics calculator for engineers “Circuit Playground” – Adafruit’s Apps!
Maker Business — Transforming Today’s Bad Jobs into Tomorrow’s Good Jobs
Wearables — Etching a stencil
Electronics — Is your op amp going crazy?
Biohacking — Token – A Wearable Ring with NFC & Bluetooth
2 Comments
Sorry, the comment form is closed at this time.
Aww… that’s cute.
The article says that the Bitcoin Foundation does not own, control, or conduct money transmission business. The author doesn’t stop to consider: Who does process bitcoin payments, anyway?
Bitcoin miners (collectively) process bitcoin payments.
So technically, California’s Department of Financial Institutions _should_ have sent that C&D notice to every single person currently mining bitcoins in California.
Until something like that happens (I wouldn’t hold my breath), yes, it probably is okay to mine your own coins with PiMiner. Or any other hardware, for that matter.