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RE: An Entrepreneur's Warning about the Banks' Persecution of Bitcoin/Crypto Businesses

in #bitcoin7 years ago

First, I am going to trust that you have your ducks in a row about recording people without their knowledge, but I would caution you to double check your law before you go posting those recordings. California is a two-party consent state, and I just don't record people because I don't want to have to do all of the legal study to know what is correct.

I hope that thing about the $5,000 per diem is actionable. Would appreciate a cite on that, but am looking forward to researching it. It grabs me more than the recording issue.

I may have to transfer funds from Coinbase back to my bank. Not looking forward to that. I have had my account at the bank for over 18 years, and don't want it closed with no warning.

I do realize that much of this goes away once we can easily spend our crypto, without having to first convert it to US Dollars, or some other fiat currency.

While I believe you are right on about not putting any crypto words in the name of your business, I feel I will have to stand my ground if I start a crypto tax representation division in Los Angeles.

Thank you for this post. I am reposting tonight.

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