Category: open source

Strike Debt

dig12 Comments

I am impressed.

Rolling Jubilee set up by Occupy’s Strike Debt group following the street protests that swept the world in 2011, launched on 15 November 2012. The group purchases personal debt cheaply from banks before “abolishing” it, freeing individuals from their bills.

By purchasing the debt at knockdown prices the group has managed to free $14,734,569.87 of personal debt, mainly medical debt, spending only $400,000.

via the guardian.

Principles…

We believe that most individual debt is illegitimate and unjust. Most of us fall into debt because we are increasingly deprived of the means to acquire the basic necessities of life: education, health care, and housing.

[snip]

We also oppose debt because it is an instrument of exploitation and political domination.

There is a manual, to help.

Department of the Treasury issued guidance on virtual currencies

dig

fincen.gov (Financial Crimes Enforcement Network) issued FIN-2013-G001.

A user of virtual currency is not an MSB* under FinCEN’s regulations and therefore is not subject to MSB registration, reporting, and recordkeeping regulations. However, an administrator or exchanger is an MSB under FinCEN’s regulations, specifically, a money transmitter, unless a limitation to or exemption from the definition applies to the person

*MSB = money services businesses.