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thenewgreen · 3453 days ago · link · · parent · post: Bitcoin Regulation Bill Approved by California State Assembly
Yeah, but the thing is, BTC startups need to have some clear regulation or NO regulation. Right now it exists somewhere in the middle and the problem is no banks will do business with BTC companies. No credit card processors will touch them either. It's impossible to have a BTC company without a bank. Right now they're regulated like money transmitters which means you need to be a registered money transmitter in all 50 states to run a successful business. It's WAY expensive to do. HUGE barrier to entry.