It was only a matter of time before the most over-regulated state in the country got involved in Bitcoin regulation. A new article from PaymentsSource describes the attack launched against the Bitcoin Foundation by regulators from the state of California. Interestingly enough, the Bitcoin Foundation should in no way be considered a money transmitter. Could it be that California regulators have delivered the cease and desist order to the Bitcoin Foundation simply to wrangle other Bitcoin operators in one fell swoop?
Read the full story HERE.