CoinDesk's BitLicense Report Now Available
New York's BitLicense has made the headlines globally over the past two years and has blazed a trail for regulators across the world looking to oversee bitcoin activity. CoinDesk's latest research report, available from today, takes an in-depth look at the regulatory framework, including what it means for bitcoin's future in the state, and beyond. The 32-page document charts the progress of the NYDFS' legislation - both groundbreaking and divisive - from its announcement, through two years of fact-finding and debate, to its completion. A must read for regulators, investors, lawyers and....
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UPDATE (10th August 10:16 BST): Since the publication of this article, bitcoin exchanges Kraken and Bitfinex have also confirmed they will not apply for a BitLicense to operate in New York. Bitcoin businesses wanting to continue serving New York residents have approximately 24 hours left to file their BitLicense application. The deadline, set for 8th August, marks the end of a 45-day grace period following the publication of the BitLicense in the New York State register. Formulated by the New York State Department of Financial Services (NYDFS), the long-awaited regulatory framework has....
New York's proposed BitLicense regulations were not designed to cover second-generation projects and other 'crypto 2.0' blockchain technologies, according to answers from Department of Financial Services (NYDFS) superintendent Benjamin Lawsky. Questions on how the NYDFS viewed innovations not primarily concerned with currency or exchange of value were put to Lawsky first at a recent presentation on BitLicenses in New York, and then again yesterday by CoinDesk's Stan Higgins at the Money20/20 conference in Las Vegas. Work is being done in this area, Lawsky said. @coindesk asks @BenLawsky if....
Last updated: 25th August. Cryptocurrency companies that operate in, or serve customers who are based in, New York State had until 8th August to apply for a BitLicense. Established by the New York State Department of Financial Services (NYDFS), and now in effect, the BitLicense is a custom-made regulatory framework for bitcoin and digital currency businesses. CoinDesk is keeping track of both the companies that apply for a BitLicense and those that decide to cease operating in the state. Use the buttons below to switch between (a) a table showing companies that have applied for the....
The New York State Department of Financial Services (NYDFS) has released a revised version of its BitLicense proposal. First revealed in July, the new framework comes after a lengthy, 90-day comment period for the proposed regulation, which saw notable names from both within and outside of the bitcoin industry weigh in on the proposal. The finalized bill includes previously announced changes, like exclusions for software providers, gift card companies and those who seek to use blockchain tokens for non-financial purposes. A spokesperson for the NYDFS indicated that an official version of....
The New York State Department of Financial Services (NYDFS) has revealed that it has so far received 22 applications from firms seeking to engage in virtual currency business activity in the US state. The announcement, made exclusively to CoinDesk, follows the 8th August filing deadline for businesses previously offering such services to the New York market, and does not include firms that have applied for banking charters. Speaking to CoinDesk, NYDFS deputy superintendent for public affairs Matt Anderson indicated that the agency believes this filing total shows there is "substantial....