Thursday, May 19, 2022

Featured Archives: California Sends Bitcoin Foundation Cease and Desist Order

By Mike Bruschini
Reason Magazine
June 24, 2013

California's message to Bitcoin supporters: if you "may be" doing the crime, we'll tell you what you'll do in hard time.

The California Department of Financial Institutions' cease and desist order dated May 30 wasn't as explicit in implicating the Bitcoin Foundation, a nonprofit with a mission to standardize and promote the Bitcoin technology, of any legal wrongdoing as it was in outlining punitive consequences if the electronic currency advocacy group was to be transmitting money without licenses or the state's authorization. Jon Matonis, who sits on the Board of Directors for Bitcoin Foundation, brought California's order to attention in a column for Forbes published yesterday.

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