The Bitcoin Foundation is formed, implementing a core development team for the protocol and a body to oversee the digital currency. The foundation was formed in late 2012, after bitcoin had earned a reputation for criminality and fraud, and was modeled on the Linux Foundation. The chairman of the board at the founding was Peter Vessenes. Former lead bitcoin developer Gavin Andresen was hired by the foundation as “chief scientist.” In June 2013, the foundation received a letter from the California Department of Financial Institutions requesting that they “cease and desist from conducting the business of money transmission in this state,” and again when it published their detailed response to the regulators. In November 2013, Patrick Murck, general counsel of the foundation, testified before a United States Senate committee convened to assess digital currencies, at which the reception of bitcoin by lawmakers was generally positive. https://en.wikipedia.org/wiki/Bitcoin_Foundation