3 ms·
IANAL.. but at the very least, I'd say its poor strategy because the people he's suing (esp. VC funds) are well connected in Silicon Valley. It looks like he's
by neurotech1 13y ago
IANAL.. but at the very least, I'd say its poor strategy because the people he's suing (esp. VC funds) are well connected in Silicon Valley.
It looks like he's equating "pass through" transactions with being a (unlicensed) Money Transfer Agent.
Hypothetically, If I was going to start a PayPal alternative, I would figure out a way to stay somewhat compliant.
If that fails, seek a declarative judgement against XYZ agency to get legal clarification, without dragging all the VCs, Angels and unrelated companies into the case.