Blog Archives

Coinbase finally chimes in on BitLicense, calls it “redundant”

Posted on 10th September, 2014

As the deadline for public comment on the proposed New York Department of Financial Services (NYDFS) “BitLicense” rules approaches, some of bitcoin’s biggest players are finally making their opinions known. Circle, Xapo and the Bitcoin Foundation have all weighed in on the topic in the last two months, but the true giants of the bitcoin […]

Xapo: “The BitLicense is over-regulation”

Posted on 3rd September, 2014

Xapo founder Wences Casares has weighed in on the “BitLicense” regulatory framework proposed by the New York Department of Financial Services (NYDFS), calling it “over-regulation” that “hinders progress and serves an anticompetitive function” for the still-growing bitcoin industry. In a new post on the Xapo blog, Casares said that the regulation will have a “potentially […]

NYDFS extends comment period on proposed BitLicense regulations

Posted on 21st August, 2014

The New York Department of Financial Services (NYDFS) has extended the public comment period around their proposed “BitLicense” regulation for digital currency-related businesses operating in the state’s jurisdiction. In an update published today to the NYDFS website, the regulatory agency said that the extension came in response to a “significant amount of public interest in […]

Circle CEO Jeremy Allaire says that proposed BitLicense will force company to block service in NY

Posted on 13th August, 2014

As the public comment period for the proposed New York Department of Financial Services (NYDFS) “BitLicense” draws to a close, the bitcoin community is segregating into two broad camps. On one side are the privacy-minded, regulation-resistant types who are generally skeptical of the need for government oversight of an exchange system that was specifically designed […]

BitLicense protestors create “Bitcoin Blackout” campaign for August 20

Posted on 13th August, 2014

Few recent developments in the bitcoin world have been as controversial as the proposed New York Department of Financial Services (NYDFS) “BitLicense” plan. The regulation would seek to place standard bank-like controls on bitcoin-related businesses in New York, including a range of know-your-customer rules and anti-money laundering controls. With increased anonymity and a lack of […]

Report: BTC Guild may close due to NY’s BitLicense restrictions

Posted on 27th July, 2014

Could the New York Department of Financial Services (NYDFS) BitLicense shutter long-running mining pool BTC Guild? Recent discussions about the impact of the disclosure rules in the proposed regulations may result in the closure of the mining collective. In a statement published on July 19, BTC Guild’s operator said that compliance with the new rules […]

New York Department of Financial Services releases “BitLicense” rules draft

Posted on 17th July, 2014

The New York Department of Financial Services (NYDFN) published the draft version of their regulatory framework for bitcoin and other digital currencies this morning. The “BitLicense” rules are aimed largely at digital currency service providers, such as exchanges and hosted wallet companies, and would effectively exempt any company using a third-party bitcoin payment service from […]

NYDFS chief Ben Lawsky says virtual currency regulations will be released this month

Posted on 10th July, 2014

New York Department of Financial Services (NYDFS) superintendent Ben Lawsky announced via Twitter yesterday that his agency was facing some delays in the finalization of rules for digital currency-using companies in the state. Originally planned for debut around the first of the month, the much-anticipated regulations will provide guidelines for how the range of financial […]