What recourse do Bitcoin companies operating in the US have in light of the recent ruling by FinCEN?

Bitcoin Money Transmitter License


On October 27, 2014, the Financial Crimes Enforcement Network (FinCEN) released new guidance for custodial bitcoin exchanges and payment processors, ruling that such companies may be considered money services businesses under US law.

The past couple of days have been very hectic. Besides fielding calls from lots of people, everyone is asking the same question. What can a Bitcoin company, operating in the US, now do to get back to business? Continue reading →

FinCEN’s new ruling puts Coinbase, Bitpay, Circle and others in deep trouble.

FinCEN Ruling on Bitcoin Merchants & Brokers


The US Financial Crimes Enforcement Network (FINCEN) released its opinion on: Request for Administrative Ruling on the Application of FinCEN’s Regulations to a Virtual Currency Payment System yesterday (27th October 2014).

The ruling which is an update to an earlier ruling of October 2013, in which only Bitcoin Exchanges were subject to the Money Transmitter Rules, exempted other types of businesses from being categorized as money transmitters. Continue reading →

Murder on Chundrigar Road: How SBP killed the payments/fintech startup industry.

SBP Rules for Payment Service Providers and Payment Systems Operators


For those who don’t know, I.I. Chundrigar Road is the road on which the Central Bank of Pakistan, i.e. State Bank of Pakistan is located.

Last week they released their Rules for Payment System Operators & Payment Service Providers, which essentially killed the Payments & Fintech startup industry of Pakistan.

Murder on Chundrigar Road is aptly justified. Continue reading →

How State Bank of Pakistan just killed the Payments & Fintech Startup Industry of Pakistan.



State Bank of Pakistan recently released the much anticipated Rules for Payment System Operators & Payment Service Providers.

The expectations were high. The results. Disappointing. Continue reading →

SVR – Small Value Remittances or Micro-Transfers.

Money transfer

The Undiscovered Country…

I’ve been studying remittances for a long time now; read countless documents, viewed hours of videos, listened to tons of podcasts and interacted with 100s of people on this issue. The one recurring element I see is the problem of micro payments across-the-border.


I think the word ‘micro’ here may do some injustice, for people think micropayments equate to sub $5 payments (which could very well be true). If you were to walk into a money-transfer store on Devon Avenue in Chicago, and wanted to send $25 to your brother in Pakistan, guess what? They can’t do this transaction. Continue reading →

Fractional Ownership Using HyperLedger

Fractional Ownership


Fractional Ownership Using HyperLedger

Fractional ownership is something I stumbled upon accidentally. I mean it was always staring at me in the face, with respect to the fractional ownership of private jets, yachts and expensive vacation homes, but the general use of fractional ownership for a common man… I had not seen or read much. Continue reading →