Open Letter to Washington DC: What Bitcoin Can Teach You About the State Department's Missing Six Billion Dollars
Dear Washington DC, It has recently come to my attention that you've misplaced anotherSIX BILLION DOLLARS. This time it was the State Department. Where did it go? The Washington Times reports the Inspector General'saudit uncovering the details that look like gross mismanagement or corruption. Although uncovering mismanagement and fraud is the....
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Luxembourg-based bitcoin exchange Bitstamp has announced that after recent regulatory constraints imposed by the State of Washington, it will cease to serve customers from The Evergreen State, effective 20 December. One Reddit user posted the letter, concerned it may be a phishing attempt, which stated: We kindly ask you to withdraw your funds by 20th December 2016 by means of bitcoin or international wire. Your account will be closed after the deadline has expired. As one of the leading bitcoin exchanges that operates out of Luxembourg, the U.K., and the U.S., it hasn’t provided any clear....
Bitfinex, a Hong Kong-based bitcoin exchange, has stopped offering services to customers in the state of Washington. First revealed on Reddit by a user who claimed to have received a message on their BFX account that Bitfinex could no longer offer them services since they are in Washington State. The Reddit poster noted they had not received an email from Bitfinex and were given one day to withdraw funds. Bitfinex did not post any information on its website about the matter. Money Transmitters License Needed. The exchange decided not to pursue a money transmitters license for the state of....
Bitstamp has sent a mail to its customers announcing discontinuation of service in the Washington State area. The impact of regulations targeting cryptocurrencies is being felt again in the United States. This time it is the State of Washington which seems to be at the receiving end after Bitstamp announced that it won’t be providing services in the “Evergreen State”. The platform’s mail to its customers reads, “After long and careful deliberation, we are sorry to inform you that due to recent regulatory constraints imposed by the State of Washington, Bitstamp will cease to serve customers....
We have enough examples now to know that Bitcoin has become more of a priority on Capitol Hill. In recent weeks, we have seen the House request a report from the FBI on digital currencies and money laundering, a letter of inquiry to numerous agencies from the Senate Committee on Homeland Security and Government Affairs, and 22 subpoenas from New York’s Department of Financial Services to in-state Bitcoin businesses. The Feds are keeping an eye on Bitcoin. We also now have a judicial precedent that regards Bitcoin as actual currency thanks to a federal judge in Texas.
An article on Forbes.com by Bitcoin Foundation Board Member and Secretary Jon Matonis announced today that the Bitcoin Foundation had been the recipient of of a "cease and desist" letter from the State of California's Department of Financial Instututions(DFI). The letter alleges that the "BitCoin Foundation" is operating as a money transmitting business without "proper authorization." It proceeds to threaten "APPROPRIATE ACTION" if the Foundation fails to "CEASE AND DESIST FROM CONDUCTING THE BUSINESS OF MONEY TRANSMISSION" in the State of California, and requires a response in writing....