BitLicense Comment Period Closes with Final Input from Circle, BitPay
Just in time for the closing of the comment period for New York State's 'BitLicense' proposal today, bitcoin companies Circle and BitPay managed to have the final say on the matter - for now. In their comments, both companies expressed a number of similar concerns over the BitLicense, specifically provisions they perceive as burdensome regulation that could stifle competition and innovation. The BitLicense initiative was launched by the New York Department of Financial Services (NYDFS) earlier this year and has been championed by NYDFS superintendent Ben Lawsky since then. The initial....
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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....
Circle Internet Financial isn't the only bitcoin company to issue remarks on the proposed BitLicense regulations put forth by the New York Department of Financial Services (NYDFS) today. Read: Circle Issues Remarks on BitLicense Ahead of Comment Period Deadline. Atlanta, Georgia-based BitPay also issued remarks today, submitting them to NYDFS Superintendent Benjamin Lawsky, just one day before the public commenting period on the proposal comes to a close (Tuesday, October 21st). The five-page document, authored by BitPay Chief Compliance Officer Tim Byun, covers a number of topics relating....
New York Department of Financial Services (NYDFS) superintendent Benjamin M Lawsky has extended the comment period for the BitLicense proposal by an additional 45 days. The agency cited the large volume of input from various sources, including prominent members of the bitcoin community, as the primary reason to double the comment period. The NYDFS announced the move on its official website, moving the final deadline to 21st October. The notice cited requests from the bitcoin community, which included grassroots supporters and the Bitcoin Foundation, as a driver of the deadline change. The....
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 30-day period during which the public can submit comment on the latest draft of New York's BitLicense proposal has begun. The formal comment period was initiated by the publication of the notice in the New York Register, a weekly periodical designed to keep state citizens up-to-date on rulemaking. Following roughly three weeks since the introduction of the framework, the publication seems likely to spur a new round of debate over the regulation and its more controversial measures. Speaking to CoinDesk, a number of the more prominent voices in the bitcoin community voiced concerns that....