BitLicense 2014 vs IntLicense 1994: What if this had passed 20 years ago?
“We have sought to strike an appropriate balance that helps protect consumers and root out illegal activity – without stifling beneficial innovation” We should all be fortunate that the statement above was ‘never’ made by Ron Brown; the former chairman of the Department of Commerce, which oversees the National Telecommunications and Information Administration. Those were the words of the Benjamin M. Lawsky on July 17, 2014 in a statement introducing the proposed BitLicense regulation. But what if 20 years earlier on July 17, 1994 a document known as the IntLicense was released to the world....
Related News
The New York State Department of Financial Services has released a proposal for regulating the use of cryptocurrency. It is informally known as "Bitlicense". Check it out here. The puoposal is currently in a "comment period", where many individuals in the bitcoin industry, including Circle CEO Jeremy Allaire and Bobby Lee, founder of BTC China, have expressed their opinions; they have claimed it to be an innovation blocker. Many others, however, believe that this is a step towards legitimization for cryptocurrencies. One individual, Tone Vays, a Bitcoin Analyst and risk analysis veteran on....
In early February, the New York Department of Financial Services (NYDFS) released their revised BitLicense proposal to the public. This revision took place following a 90 day public commenting period for the first BitLicense draft held by the department during the latter part of 2014. Recently, the Department has opened up an additional 30-day commenting period for the revised draft, in which anyone can submit their thoughts towards BitLicense. I, Evan Faggart, Assistant Editor of Bitcoinist.net, have been a vocal opponent of BitLicense since the release of the initial proposal in 2014. I....
BitLicense has been there on the news for a while now and recently the outgoing superintendent of New York State Department of Financial Services (NYSDFS) announced the final version of the BitLicense. By finalizing the BitLicense after almost a year of deliberations and amendments, NY became the first State in the United States to regulate cryptocurrency based businesses. Once the BitLicense regulations come into effect in full force, any Bitcoin or digital currency related business wishing to set shop in the State of New York would have to gain approval from the NYSDFS after meeting all....
New York's BitLicense has made the headlines globally over the past two years and has blazed a trail for regulators across the world looking to oversee bitcoin activity. CoinDesk's latest research report, available from today, takes an in-depth look at the regulatory framework, including what it means for bitcoin's future in the state, and beyond. The 32-page document charts the progress of the NYDFS' legislation - both groundbreaking and divisive - from its announcement, through two years of fact-finding and debate, to its completion. A must read for regulators, investors, lawyers and....
This op-ed is all about inspiring you to look at the future from a different perspective. Getting you to look at the world, at Bitcoin, and how they fit together in a totally different fashion. People today are all caught up in the US Dollar price of Bitcoin and the ups-and-downs of Bitcoin's value relative to a fiat currency. That misses the entire point of what Bitcoin is, and why it's here. It's here for you. It's not here to compete with dollars, for dollars. And Bitcoin can make history, most likely by repeating history in its own image. Also read: The Promise Of Bitcoin Is Important,....