BitLicense Tramples Another New York Bitcoin Company
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....
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BitLicense has been a huge pain to many bitcoin and digital currency based startups operating in the State of New York. Once BitLicense was made mandatory and the deadline to apply for BitLicense surpassed, few of the companies decided to withdraw their services from New York while other companies who considered New York to be an important market decided to stick on and apply for it. Circle, a bitcoin based money transfer application was one among the many bitcoin companies that applied for BitLicense and recently it went on to become the first company to receive BitLicense from New York....
Eobot, a cryptocurrency cloud mining company, will not serve customers in New York State as of July 1, 2015, on account of the recently finalized New York State BitLicense requirements. "If you are residing in and/or accessing Eobot within the State of New York, U. S., please withdraw all coins and cease all mining with Eobot as of July 1, 2015, as we are ceasing all Eobot mining connections from within New York at that time," the company announced on its website. We regret that we must cease Eobot business within New York State, however the new BitLicense requirements in this state place....
The highly restrictive and controversial New York BitLicense has claimed another victim. Eobot, a Bitcoin cloud mining company, will be ceasing operations in New York state as of July 1, 2015. Eobot has made the decision to cut off its services to New York because it believes the BitLicense requirements are “excessive”: From Eobot: “To All Customers: If you are residing in and/or accessing Eobot within the State of New York, US, please withdraw all coins and cease all mining with Eobot as of July 1, 2015, as we are ceasing all Eobot mining connections from within New York at that time. We....
If New York was Jurassic World, BitLicense would undoubtedly be its Indominus Rex. The highly constrained New York Bitcoin regulatory framework has apparently forced another local company to shutdown its operations. This time, it is Eobot, a Bitcoin cloud miner, which decided to take down its banners within New York, stating that the state's new license requirements are putting additional cost burdens on them. "We regret that we must cease Eobot business within New York State, however the new BitLicense requirements in this state place compliance and cost burdens upon Eobot that we believe....
Following its implementation earlier this year and the exodus of some bitcoin companies from New York, the BitLicense framework granted its very first regulatory license to mobile payments company Circle this week. With this, Circle can now be able to offer its service that allows sending, receiving, and holding U. S. dollars and bitcoin. Circle Internet Financial Ltd. was founded by Jeremy Allaire two years ago and is backed by Goldman Sachs Group Inc. It is now the first startup legally allowed to offer digital currency services in the state of New York. New York BitLicense Framework.....