4 ms·

Until Coinbase complies with applicable laws, every transaction they handle is a high-risk transaction. They could be shut down at any moment. They're not alon

Until Coinbase complies with applicable laws, every transaction they handle is a high-risk transaction. They could be shut down at any moment. They're not alone. There isn't a single Bitcoin exchange in the world right now compliant with U.S. money transmission laws. Buyer/seller beware. Full disclosure: we're in litigation over this.

shtylman 13y ago
Based on your username, I am going to assume you are referring to this lawsuit: http://www.scribd.com/doc/139975904/Aaron-Greenspan-lawsuit http://www.scribd.com/doc/139975904/Aaron-Greenspan-lawsuit In which case you are the Plaintiff suing these companies which is very different than the US government suing them.
- thinkcomp 13y ago
  That's the original complaint--an amended complaint has been filed since--but I'm not sure I follow... Whether or not the law has been enforced has nothing to do with their compliance. The full docket is here: http://www.plainsite.org/flashlight/case.html?id=2434524 http://www.plainsite.org/flashlight/case.html?id=2434524
  - diziet 13y ago
    Aaron, there is no question in my mind that the MTA laws are at best inappropriate and the varied enforcement (or lack of enforcement) of the laws are irrational. But I wonder what goal the complains and lawsuits would bring do you want to accomplish?
- aryanet 13y ago
  Holly! That is one hell of a plaintiff list. I am going to enjoy reading this.
  - michaelhoffman 13y ago
    I think you mean it is a hell of a defendant list. There's only one plaintiff, Think Computer Corporation.
- xpop2027 13y ago
  Nice find.
- cbr 13y ago
  Summary: Aaron Greenspan was running a company handling money online until 2011 when he ran into regulatory issues with the state of CA. He's now suing many other organizations who are doing similar things, claiming those organizations aren't trying to comply with the law which gives them an unfair advantage. He appears to representing himself.
  - thinkcomp 13y ago
    "He appears to representing himself." Not true, look at the docket.
    - cbr 13y ago
      Sorry, I got that from: REQUEST FOR CIVIL LOCAL RULE 3-9(b) EXEMPTION AND RETIREMENT This complaint is not signed by a member of the Bar of this Court and Plaintiff is a corporation. Civil Local Rule 3-9(b) requires corporations to retain counsel...
deleted 13y ago
[deleted]
maxvu 13y ago
I don't understand -- is your intention to put them under fire so they're on your side in efforts to repeal MTA?
cfontes 13y ago
Could you please explain what you are doing in layman terms?
- swalkergibson 13y ago
  He alleges that there are a number of companies that are deliberately skirting money transmission regulations, where his company was trying to do things by the book. As a result, those companies raised money from VCs where he was unable, allegedly due to his desire to get things done within that regulatory framework. Consequently, the other companies got ahead of his company in the marketplace, thus he is seeking damages that compensate him for the allegedly anti-competitive behavior of those companies and VCs.

shtylman 13y ago

Based on your username, I am going to assume you are referring to this lawsuit: http://www.scribd.com/doc/139975904/Aaron-Greenspan-lawsuit http://www.scribd.com/doc/139975904/Aaron-Greenspan-lawsuit In which case you are the Plaintiff suing these companies which is very different than the US government suing them.

thinkcomp 13y ago
That's the original complaint--an amended complaint has been filed since--but I'm not sure I follow... Whether or not the law has been enforced has nothing to do with their compliance. The full docket is here: http://www.plainsite.org/flashlight/case.html?id=2434524 http://www.plainsite.org/flashlight/case.html?id=2434524
- diziet 13y ago
  Aaron, there is no question in my mind that the MTA laws are at best inappropriate and the varied enforcement (or lack of enforcement) of the laws are irrational. But I wonder what goal the complains and lawsuits would bring do you want to accomplish?
aryanet 13y ago
Holly! That is one hell of a plaintiff list. I am going to enjoy reading this.
- michaelhoffman 13y ago
  I think you mean it is a hell of a defendant list. There's only one plaintiff, Think Computer Corporation.
xpop2027 13y ago
Nice find.
cbr 13y ago
Summary: Aaron Greenspan was running a company handling money online until 2011 when he ran into regulatory issues with the state of CA. He's now suing many other organizations who are doing similar things, claiming those organizations aren't trying to comply with the law which gives them an unfair advantage. He appears to representing himself.
- thinkcomp 13y ago
  "He appears to representing himself." Not true, look at the docket.
  - cbr 13y ago
    Sorry, I got that from: REQUEST FOR CIVIL LOCAL RULE 3-9(b) EXEMPTION AND RETIREMENT This complaint is not signed by a member of the Bar of this Court and Plaintiff is a corporation. Civil Local Rule 3-9(b) requires corporations to retain counsel...

deleted 13y ago

[deleted]

maxvu 13y ago

I don't understand -- is your intention to put them under fire so they're on your side in efforts to repeal MTA?

cfontes 13y ago

Could you please explain what you are doing in layman terms?

swalkergibson 13y ago
He alleges that there are a number of companies that are deliberately skirting money transmission regulations, where his company was trying to do things by the book. As a result, those companies raised money from VCs where he was unable, allegedly due to his desire to get things done within that regulatory framework. Consequently, the other companies got ahead of his company in the marketplace, thus he is seeking damages that compensate him for the allegedly anti-competitive behavior of those companies and VCs.