Has New York State gone astray in its pursuit of crypto fraud?
A new Senate bill strives to keep the “spirit of blockchain” while combating crime, but critics call it ill-conceived, redundant and unworkable. The Empire State made two appearances on the regulatory stage last week, and neither was entirely reassuring. On April 25, bill S8839 was proposed in the New York State (NYS) Senate that would criminalize “rug pulls” and other crypto frauds, while two days later, the state’s Assembly passed a ban on non-green Bitcoin (BTC) mining. The first event was met with some ire from industry representatives, while the second drew negative reviews, too.....
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Coinseed also created an ERC-20 token whose message is targeted at New York Attorney General Letitia James. Coinseed, a crypto platform that enabled micro-investing in cryptocurrency assets for its users, has shut down its operations.Delgerdalai Davaasambuu, founder and CEO of Coinseed, announced the decision via a statement published on the platform’s website.Detailing his decision to shutter the business, Davaasambuu wrote:“It is with an incredibly heavy heart, today I’m announcing that I am winding down the business due to a lawsuit from the NYAG (New York Attorney General).”As....
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....
New York State Senator Kevin Thomas, has proposed a bill that seeks to criminalize illegal crypto rug pulls. The lawmakers of New York state seemed to have been rubbed off the wrong way as it has been passing stringent signals to the crypto industry. The legislative amendment in concern proposes penalties for rug pulls and […]
Currently, the pressure to suspend cryptocurrency and Bitcoin mining in the United States is gaining force in New York as the New York environmental agency evaluates the impact of crypto mining on the environment. On Monday, the New York state senate submitted a bill to enforce a 3-year pause on cryptocurrency mining across the state. […]
The state of New York is about to shoot itself in the foot yet again. First, the infamous BitLicense drew all cryptocurrency companies away and now they’re considering banning Proof-Of-Work mining. Or at least making it very hard for mining facilities and home miners to operate from the state. The New York State Assembly will […]