BitLicense Comments Reveal Western Union Wants Ben Lawsky to Approve Every Bitcoin ATM Location
Earlier today, NYDFS Ben Lawsky posted to Twitter stating that all the BitLicense comments received by the department have been published. All in all, the NYDFS received 3,746 comments from around the world. The vast majority of commentators are individuals are the average length of comments vary greatly. However, some notable large companies also submitted comments to the NYDFS to seek clarification or provide suggestions. Walmart, Amazon, and Western Union are three of the largest companies that have publicly commented on the BitLicense. Despite releasing the comments, Lawsky still has....
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For many in the bitcoin industry, Western Union is the epitome of everything that's wrong with traditional finance - one might say it's the Blockbuster Video of a financial world that is on the verge of a Netflix solution. As a result of this complicated history, bitcoin commentators took aim at Western Union's latest act in the digital currency space: its public comment on New York's controversial BitLicense proposal. Published last week as part of a release of more than 3,700 comments that included big-name brands like Amazon and Walmart, it was Western Union's submission that perhaps....
Right now, the New York Department of Financial Services (NYDFS) is holding a 30-day public commenting period for the revised draft of its BitLicense regulation. By now, everyone in the Bitcoin community probably knows what BitLicense is; all cryptocurrency businesses in the state of New York that fall under the regulation’s jurisdiction must apply for a special license in order to operate in the state. Once your application is approved, and you get a license, you must continuously comply with a slew of restrictive regulations. During the commenting period for the first BitLicense draft, a....
The New York State Department of Financial Services (NYDFS) has today made public over 3,700 comments it received regarding its BitLicense proposal. The move provides new insight into the organisations and individuals that have taken an interest in the proposed regulation. Perhaps most notably, the full release included submissions from some of the largest businesses in the US, including e-commerce giant Amazon, retail juggernaut Walmart and global remittance specialist Western Union. The filings suggest that the BitLicense is being interpreted broadly by the legal representatives of these....
Former New York State Department of Financial Services (NYDFS) superintendent Benjamin Lawsky denied allegations from the Bitcoin community suggesting he created the BitLicense as a setup for his newly established legal firm, The Lawsky Group. Lawsky said he is not allowed to work on anything related to the BitLicense for the rest of his life. Lawsky countered the criticism during an interview with American Banker editor in chief Marc Hochstein. The interview, held at the American Banker Digital Currencies + the Blockchain Conference in New York City, was Lawsky's first public appearance....
Former New York State Department of Financial Services (NYDFS) superintendent Benjamin M Lawsky issued his first public statements on the BitLicense today following his stepping down from the position in June. The comments came during an interview with American Banker editor in chief Marc Hochstein at the second annual American Banker Digital Currencies + the Blockchain Conference in New York City, which also featured Digital Asset Holdings CEO Blythe Masters and Digital Currency Group CEO Barry Silbert, among others. Overall, the conversation stuck more broadly to areas of interest for....