Monday, June 9, 2014

Whoa! Bitpay Hires Former Anti-Money Laundering and Anti-Terrorist Financing Officer as Chief Compliance Officer

Bitcoin will become a tool of government. It is not a libertarian solution to freedom from government.

Former Visa anti-money laundering and anti-terrorist financing officer Tim Byun has announced that he will join bitcoin merchant processor BitPay as its chief compliance officer.

Byun served as a Visa executive from February 2009, and previously worked at the Federal Reserve Bank of San Francisco and the Federal Deposit Insurance Corporation.

Note: A guy like this is not going to Bitpay to fight for freedom from government regulation. Byun has been a government tool throughout his career.

BitPay executive chairman Tony Gallippi said:
As the bitcoin industry continues to grow, BitPay wants to ensure that our policies and procedures fall inline with various state, federal and international regulations. For this reason, we hired Tim to set up and maintain our compliance structure.


  1. In before mouthpiece bitcoiners try to defend the god of their salvation.

    1. lol...'dark wallet' will save them...the block chain can never be tracked they say..lmao!

      There's a reason the Feds haven't asked for a back door to Tor, and it is the same reason that dark wallet doesn't matter.

      It's always a game of cat and mouse, if you're the mouse, it's dangerous to assume the cat never learns let alone bet on it.

  2. No news here. Yes, those companies that operate in a US jurisdiction will have to deal the existing laws. Fortunately, BitPay does not equal Bitcoin. If you want privacy in your transactions don't use an intermediary that deals with the banking system and that is subject to those regulations. Of course, we libertarian bitcoiners have known this all along.