Comment on Balanced (YC W11) Adds Bank Payments to its P2P Payments PlatformparentComments−flynnwynn13yAre you saying this service is illegal without the money transmission license?−thinkcomp13yYes I am--not to pick on them though. They are one startup of many and if everyone pretends it's not an issue then the law will never get fixed.http://www.leginfo.ca.gov/cgi-bin/displaycode?section=fin...Assembly Bill 786 is about to make it a lot worse.http://www.leginfo.ca.gov/cgi-bin/postquery?bill_number=ab_7...
Comments
Are you saying this service is illegal without the money transmission license?
Yes I am--not to pick on them though. They are one startup of many and if everyone pretends it's not an issue then the law will never get fixed.
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=fin...
Assembly Bill 786 is about to make it a lot worse.
http://www.leginfo.ca.gov/cgi-bin/postquery?bill_number=ab_7...