BitLicense Updated To Be Less Strict, Lawsky Calls ACH ‘Disco Era’
The New York Department of Financial Services (DFS) has updated its proposed Bitcoin regulation known as the BitLicense. Ben Lawsky, the new department's first superintendent, held a press conference after a group chat on the future of payments, discussing the changes and other issues affecting New York's financial regulatory body. Lawsky first clarified a few things about the BitLicense in its original form. He pointed out that the regulations did not apply to individuals holding Bitcoin for personal investments, or to software developers, currency miners, promotional or “reward” points....
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As revealed for the first time earlier today, The New York Department of Financial Services plans to give "transitional BitLicenses" to certain smaller digital currency companies seeking to do business in New York. NYDFS Superintendent Ben Lawsky gave some updates to the NYDFS's proposed BitLicense regulatory framework during his keynote speech at Money20/20. Lawsky repeated that Bitcoin software developers and individual users would not have to apply for a BitLicense. Lawsky also emphasized that individuals miners and even large mining pools would not need to apply for a BitLicense, this....
It wasn't terribly long ago that I wrote about New York Department of Financial Services (NYDFS) Superintendent Benjamin Lawsky speaking at the Cardozo Law School in New York City. That event took place on Tuesday evening, and many in the community may be relieved to hear about what changes Lawsky and his team are planning to make to the much talked about BitLicense proposal that is out now in a public commenting period. For starters, software developers, bitcoin minters, and individuals using the digital currency (with the exception of those offering financial services) will not be....
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....
The new BitLicense will open for a 30-day public comment period in just a few days. In a speech to the Bipartisan Policy Council, a Washington D. C. think tank, New York Department of Financial Services (NYDFS) Superintendent Ben Lawsky told the world about the new BitLicense's impending release date as well as several planned changes. Also read: NYDFS's Ben Lawsky Reveals Plan for Transitional BitLicense at #Money2020. Changes in the new BitLicense. Notably, a new BitLicense is not required for consumers or merchants seeking to transact in Bitcoin; furthermore, Bitcoin-related software....
The Department of Financial Services superintendent, Benjamin Lawsky, who has been leading the charge in an effort to regulate bitcoin, is reportedly considering resigning from his position in early 2015. Benjamin Lawsky is perhaps the most powerful person in New York State to be pushing regulation on the bitcoin community. Many are curious as to where Lawsky will go: a bank? a finance company? a Bitcoin company? an elected position? After the election of last week, it's not uncommon to see several resignations follow. Perhaps the most interesting resignation is that of Benjamin Lawsky.....