Quote from: TangibleCryptography on June 04, 2013, 05:41:35 PM

Quote from: JimCGSavings on June 04, 2013, 04:14:40 PM

OK, total newb here, but the U.S. IS the land of suit/countersuit. Couldn't Tangible Cryptography take steps to protect itself and any investors by seeking legal redress from the Commonwealth of Virginia for any loss or possible loss of income due to interference with its business on the basis of such a vague charge? Go on the offensive! Fight back! (grin)

Simple answer is no. The notice from the commonwealth only indicates we "may" be engaged unlicensed money transmission. There is only a demand to cease "if" we are engaged in activity which requires licensure. However it is prudent for us to stop at this time until we have clarity on the position of the government. At this point it is our intent to avoid an adversarial situation which likely will be costly and time consuming and instead open a dialog with the commission as Bitcoin is an emergent technology and based on the letter we believe they have some significant misunderstandings on how this technology works.

wouldn't it just be easier to move to another state or jurisdiction?