Coin Center Denounce BitLicense for Impeding Innovation
Nonprofit Bitcoin Advocacy Group Coin Center recently published its views on the just-released Bitcoin regulatory framework, the BitLicense, saying that it will obstruct digital currency innovations in New York. The US-based organization was one of the most frequent and active voices to push for a tech-friendly BitLicense, but today stands disappointed with some of its problematic provisions. The first and the foremost issue discussed in Coin Center's blogpost is related to the anti-money laundering requirements which ends up being rather confusing than simplified. "The new language is....
Related News
The ongoing debate about the role of governments in regulating digital currencies isn't going away anytime soon. While the dustup over New York's BitLicense program continues, another front has opened up in California where a member of the state assembly has introduced a bill to regulate California's digital currencies businesses. The Washington, D. C. -based Coin Center and the San Francisco-based Electronic Frontier Foundation (EFF) each have lobbied hard against the New York Department of Financial Services attempts to regulate New York businesses with its controversial BitLicense....
Genesis Mining has decided to discontinue its Bitcoin mining services in New York, following the enactment of the state's regulatory framework BitLicense. In the blogpost released Wednesday, the contract mining company thrashed the license for impeding the growth of Bitcoin startups, stating that it has been created to intentionally hurt the companies associated with digital currencies. It further accused BitLicense for bringing guidelines that are complex, expensive and impossible to comply with. Except: "We stand by the cryptocurrency community and believe this particular piece of....
A proposed California law to regulate virtual currency has drawn mixed reactions from industry advocates, in stark contrast to the New York BitLicense that met united industry opposition. AB 1236 sponsored by Assemblyman Matt Dababneh requires virtual currency companies to be licensed. The measure passed the Assembly in June and awaits Senate action. The Electronic Frontier Foundation (EFF), based in San Francisco, has launched a petition opposing the measure. Coin Center, a Washington, D. C. -based group, supports the bill, calling it a cautious and well-researched approach to virtual....
Coin Center, an educational and research institution, today launched its website with the aim of focusing on public policy issues facing Bitcoin and other cryptocurrencies. Coin Center, "a new voice for Bitcoin," announced the launch of its website and its mission: "To build a better understanding of the technology in order to promote a regulatory climate that preserves maximum freedom of action for digital currency innovation." While the organization is not affiliated with any particular Bitcoin company, product, or initiative, Coin Center's focus is on engagement, education, research:....
A few weeks ago, Bitcoin Magazine reported that the prestigious Massachusetts Institute of Technology (MIT) Media Lab announced the launch of a Digital Currency Initiative, to be directed by former White House senior adviser for mobile and data innovation Brian Forde. Soon afterward, lead Bitcoin developer Gavin Andresen announced that he and other Bitcoin Core developers were joining the MIT Digital Currency Initiative, which gives MIT the roles of leadership, funding and co-ordination of Bitcoin technical development. In parallel, Bitcoin policy think tank Coin Center claimed the role of....