Bitcoin Foundation Deems Latest NYDFS Letter 'Disappointing'
The Bitcoin Foundation is reporting that certain information it requested from the New York State Department of Financial Services (NYDFS) under the Freedom of Information Law will not be delivered as soon as originally suggested. The latest correspondence stated the foundation would now receive information about the BitLicense's deliberation process within 120 days. The organisation had originally hoped to receive a response within 20 days of its filing. A post penned by Jim Harper, the Bitcoin Foundation's global policy counsel, outlined what the organisation had hoped to achieve with....
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The Bitcoin Foundation has again commented on the 'BitLicense' proposal put forth by the New York State Department of Financial Services (NYDFS) to regulate bitcoin businesses in the state. In a statement released today, the foundation highlights the need for public access to the "extensive research and analysis" cited by the NYDFS when the BitLicense was first proposed. This data, it says, is essential to examine the rationale used by the NYDFS in substantiating its regulatory proposal. The foundation further points out that the NYDFS has failed to produce these materials. Despite an....
No doubt, there's been a ton of chatter lately regarding the recently-released BitLicense and Bitcoin regulation proposals from the New York State Department of Financial Services (NYDFS). Many have seen promise, and others have nothing but questions. One such entity in the Bitcoin Foundation. Using New York law that would require a statement of "needs and benefits" for proposed regulation, the Bitcoin Foundation wrote a letter to the NYDFS which includes a request under the New York Freedom of Information Law (FOIL) for "any risk management and cost-benefit analysis (or any other....
The Bitcoin Foundation has thrown its weight behind efforts to extend the 45 day-long comment period for the BitLicense proposal drafted and recently released by the New York Department of Financial Services (NYDFS). In an open letter to the NYDFS, Global Policy Counsel for the Bitcoin Foundation Jim Harper said that there needs to be greater cooperation with the bitcoin community and more transparency for the process as a whole. The organization's efforts to advocate for a more growth-oriented BitLicense proposal builds on a previous grassroots-level initiative in which roughly 400....
The New York Department of Financial Services promised to provide the Bitcoin Foundation with more information on draft 'DFS-29-14-00015-P,' "Regulation of the conduct of Virtual Currency Businesses," or otherwise known as the BitLicense, after the Foundation had filed with the NYDFS yesterday with concerns and comments, in accordance to the New York Freedom of Information Law for "any risk management and cost-benefit analysis (or any other systematic assessment) that is a part of the 'extensive research and analysis'." Jim Harper leads the Bitcoin Foundation's Global Policy Counsel. He is....
Barry Silbert, CEO of SecondMarket, has posted an official letter requesting that the NYDFS extend the deadline for filing public comment by 45 days, on their "BitLicense" proposal. He urges affected companies and individuals to sign. Currently, the list of signatures includes many A-Listers such as Elizabeth Ploshay, a board member of the Bitcoin Foundation, Erik Voorhees, several prestigious universities such as Harvard and Stanford, and of course Barry Silbert himself. The more signatures the letter receives, the greater the chances we have to help shape or oppose the NYDFS BitLicense....