Posts in category

BitLicense


The sudden resignation of New York Attorney General Eric Schneiderman on Monday night doesn’t appear to have impacted that office’s inquiry into more than a dozen cryptocurrency exchanges. CoinDesk asked the Attorney General’s Office if the crypto exchange inquiry would continue in light of Schneiderman’s exit. In an email, press secretary Amy Spitalnick wrote: “Our …

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The New York State Department of Financial Services (NYDFS) is taking steps to defend its much-contested track record as an early regulator of cryptocurrency. In remarks at this year’s Conference of State Bank Supervisors Tuesday, NYDFS superintendent Maria Vullo discussed the agency’s efforts to police the cryptocurrency space, touting the state’s technology-specific licensing regime, the …

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“This will replace the BitLicense.” It’s safe to say Assemblyman Ron Kim has high hopes for his newly proposed New York law, Bill A9899. Submitted to the state legislature in February, Kim’s legislation takes aim squarely at the so-called “BitLicense,” the much-maligned regulatory regime now imposed on crypto startups serving the fourth most populous U.S. state. In …

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The Square Cash App, a mobile app formerly for sending just fiat currency that added a Bitcoin (BTC) sending option in late January 2018, has made BTC buying and selling available for Wyoming users. The app is working on adding the option for New York residents as well, currently in the process of applying for the …

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P2P payments technology company Circle announced that they rolled out the latest addition to its “family” — the cryptocurrency investment app Circle Invest — to most of the US on Tuesday, March 13. In a blog post and email sent to customers, Circle, which is one of a handful of businesses to have received a …

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Digital payments company Square is in the process of applying for a BitLicense in a bid to expand its Cash App’s bitcoin buying option to New York. A spokesperson for Square confirmed the process following a tweet on Tuesday that suggested the company was “working on” opening up bitcoin buys and sells to users in that …

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“Anyone in the crowd that does not think the BitLicense needs to be reformed?” Not a word from the audience. Then, a few seconds later, laughter at the awkward silence. But the question itself, posed by New York state senator Jesse Hamilton at a roundtable Friday, hinted that the controversial 2015 regulation may soon be …

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“Anyone in the crowd that does not think the BitLicense needs to be reformed?” Not a word from the audience. Then, a few seconds later, laughter at the awkward silence. But the question itself, posed by New York state senator Jesse Hamilton at a roundtable Friday, hinted that the controversial 2015 regulation may soon be …

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South Korea is considering adopting an approval system for crypto exchanges based on New York’s BitLicense system, local news outlet BusinessKorea reports. BusinessKorea writes that it is unlikely any final decision will be made until after the June 2018 elections in the country. A government official spoke to them about the option as part of …

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South Korea is reportedly considering a technology-specific licensing scheme as part of it proposed regulation of cryptocurrency exchanges. According to BusinessKorea, a government official involved with a virtual currency task force said Sunday that such rules, which bear a similarity to New York’s controversial “BitLicense,” introduced in 2015, could be enacted or at least debated. The source …

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Sarah H. Brennan, a corporate and securities attorney, leads the blockchain technology, cryptocurrency and digital assets practice team at Lippes Mathias Wexler Friedman LLP. In June 2015, in a race to be a first mover in the space, the New York Department of Financial Services (DFS) enacted the BitLicense regulatory framework, a licensing regime that …

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Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. BitLicense architect Ben Lawsky has joined fintech startup Ripple’s Board of Directors. Lawsky, a former federal prosecutor, was a thorn in the side of Wall Street banks during his tenure as the first-ever superintendent of the New York State Department of Financial …

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SegWit2x will result in cryptocurrency businesses operating in New York to break BitLicense rules “no matter the outcome” of the hard fork. An email sent to the New York Department of Financial Services (NYDFS) this week is causing more controversy over November’s planned chain split, accusing lawmakers of failing to act on legal obligations. “[…] …

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