How FINCEN regulations affects cloud based solutions in payment tech.

Just a few weeks ago, the Financial Crimes Enforcement Network (FINCEN) released a ruling about the applicability of the payment processor exception to a Bitcoin based company. As a little background, generally any company that transfers value between one party and another (or from one location to another) is deemed a money transmitter and subject […]

Ignorance is Bliss

I would say the vast majority of people, lawyers especially, are completely clueless to the coming revolution of decentralized computing. This is a complete paradigm shift from how most people have been taught to believed over the past 2000 years. The revolution will not be televised (because television is a product of a centralized production […]

Bitcoin Vending machines

I’ve had a lot of inquiries over the past years about Bitcoin vending machines (aka ATMs). The general concern, and one of the primary reason holding back machine adoption, has been around compliance issues. For the avoidance of confusion, I’m going to refer to the devices as Bitcoin kiosks. I should mention that this blog […]

My response to the BitLicense Proposal

September 8, 2014 dana.syracuse@dfs.ny.gov DFS Office of General Counsel – Dana V. Syracuse New York State Department of Financial Services One State Street, New York, NY 10004 Dear Mr. Syracuse, I am submitting this comment in response to the proposed “BitLicense” regulatory framework proffered by the NYSDFS on July 17, 2014. Thank you for the […]

Banking

FinCen encourages banks not to de-risk (i.e. terminate relationships) with clients in high risk industries because those clients provide valuable intelligence into financial money movement. http://www.fincen.gov/news_room/speech/pdf/20140812.pdf  

New disposable email address App.

I post not because it has anything to do with the law, not because it has something to do with Bitcoin (it does), but because it is one of my babies. As a privacy advocate, I’m always trying to find ways to help increase people’s privacy. I was always annoyed at merchant’s asking for my […]

Porcupine Freedom Festival

I was at the Porcupine Freedom Festival in upstate NH last month and was conducting a survey about usage of Bitcoin. The reason I chose to do the survey on Porcfest is because of the high concentration of Bitcoin users and enthusiasts and the high number who had likely used Bitcoin at an actual store. […]

Bitcoin and Recurring Billing

I had a discussion a few weeks back with one of the team working on SexCoin, one of the myriad of alt-coins flooding the market. They definitely have name branding right but still miss the boat in the overall justification section. Litecoin recently tanked after one holder dump his/her holdings. DogeCoin took a similar dive, […]

An open letter to Priceline

I’ve been an avid user of Priceline’s Name Your Own Price™ for hotels for years. I have 56 hotel stays in the last 2 years (from my history) and before that I refused to register but used Priceline in guest mode. I’m sure I’ve had over 100 hotel stays, mostly with Name Your Own Price™ […]