Bitcoin Foundation Condemns Lack of Transparency in New York BitLicense
As described in a blog post released today, the Bitcoin Foundation has submitted a second public comment to the NYDFS's proposed BitLicense public comment period. The NYDFS has refused to reveal the "needs and benefits" justifications, which are legally required, for the BitLicense's severity. In this comment, Bitcoin Foundation General Policy Counsel Jim Harper emphasized that: The sacrifice of some decentralization in furtherance of other benefits to the Bitcoin ecosystem must meet a high burden of proof. Nobody should want a regulation that sacrifices Bitcoin's benefits if doing so....
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The Electronic Frontier Foundation explained their position in regards to New York's proposed BitLicense on Wednesday, and the organization that is known for defending individual rights on the Internet did not have many kind words to say about the possible regulations. Also read: Bitcoin Foundation Condemns Lack of Transparency in New York BitLicense. The point of the post by the EFF was to reach out to their community and find people who would be willing to sends comments to the New York Department of Financial Services. Rainey Reitman, the author of the post on the EFF's website, made it....
As the official comment period for the proposed BitLicense regulation comes to a close this month, two of the largest Bitcoin companies in America have revealed their public comment to the New York Department of Financial Services. Circle, a new competitor to Coinbase that provides on and off ramp services for Bitcoin to Fiat and vice versa, as well as BitPay, a leading Bitcoin merchant services and invoicing company, both revealed their official positions on the current BitLicense today. Also read: Bitcoin Foundation Condemns Lack of Transparency in New York BitLicense. Circle's Public....
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....
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....
New York regulators have issued just two BitLicense permits in the 18 months since the regulations became law, it has been revealed — while rejecting four. Patrick Murck: BitLicense ‘Put Industry Behind’. A Reuters request also revealed the BitLicense program has an application backlog of 15, with a lack of qualified staff blamed for the snail’s rate....