Bitcoin Foundation

Yesterday, Charlie Shrem, the CEO of BitInstant, was arrested over allegations of money laundering. Shrem, who has been a prominent member of The Bitcoin Foundation, has now resigned from the organization.

Bitcoin is still a concept that is gaining traction and it may take a while before government functionaries are able to understand exactly how it works. California's Department of Financial Institutions has now the Bitcoin Foundation with a cease and desist order over fairly ridiculous reasons.