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Tag: bitlicense

NewsBTC AB 1123

California’s Version of BitLicense Returns As Legislative Proposal AB 1123 No Comments

Policymakers continue to oppose bitcoin and cryptocurrencies in certain regions of the world. California legislators have tried to introduce their version of BitLicense a while ago. Luckily, those plans were shot down relatively quickly, not once, but twice. It appears a new proposal under the name AB 1123 has come up, with touches upon the topic once again. This bill needs to be opposed by the pe...


Coinbase Receives New York BitLicense No Comments

Bitcoin wallet and exchange Coinbase yesterday announced that they have obtained the Bitlicense from the New York Department of Financial Services (NYDFS). It is the formal license to carry out digital currency-related businesses in the state of New York. Coinbase believes that the long-term success of virtual currency and blockchain technologies will require productive partnerships between i...

BitPhone Shuts Down Service, Cites Regulatory Issues No Comments

Poorly drafted regulations have again started to haunt Bitcoin businesses. Many cryptocurrency platforms have fallen victims to the fiasco, choosing to either move away from a particular market/location or shut their shops entirely. BitPhone is the latest company to succumb to the injuries inflicted by regulations. The cryptocurrency-based encrypted voice and video calling platform has announc...

Bitstamp Logo Green LG WD

Bitstamp Decides to Move Away from Washington State No Comments

The impact of regulations targeting cryptocurrencies is being felt again in the United States. This time it is the State of Washington which seems to be at the receiving end after Bitstamp announced that it won't be providing services in the “Evergreen State”. The platform’s mail to its customers reads, “After long and careful deliberation, we are sorry to inform you that due to recent...

BitLicense Innovation Stagnation

BitLicense Licensing Backlog Creates Bitcoin Stagnation in New York State No Comments

New York is a great place for tourism, but not so much for entrepreneurs running a Bitcoin business. Things have gotten progressively worse since the BitLicense was introduced. As it turns out, the licensing process for BitLicense has been clogged up, and Bitcoin innovation has come to a halt in the stat.e not entirely surprising, as regulation following traditional guidelines is not the best cour...

Bitcoin Startups Regulations newsbtc Illustration

Bitcoin Regulations, Not a Hard Nut to Crack No Comments

The increasing usage of Bitcoin and blockchain technology in today's economy is posing a challenge to the governments. With the current legal and regulatory environment set to address the issues related to conventional economic systems, governments are still stuck at finding ways to include digital currencies and distributed ledger systems into it. According to George Takach, a senior partner a...

cybersecurity, bitcoin, nysdfs

NYDFS Puts Additional Regulatory Burdens on Bitcoin Sector No Comments

The New York Department of Financial Service (NYDFS) has published a new cybersecurity regulation draft which might have a direct-indirect impact on the state's Bitcoin industry growth. Touted as the regulation that would limit consumers' exposure to cyber attacks, the aforementioned law is likely to put additional legal burdens on the New York's freshly brewing Bitcoin sector. The state'...


California to Get Its Own Version of BitLicense No Comments

The State of California is all set to follow New York's footsteps. The Golden State has drafted a new digital currency regulation along the lines of New York's BitLicense, and it will be voted upon soon. The California Bitcoin License assembly bill - AB 1326 - was first introduced by the Assembly member Matt Dababneh in February 2015, and has since gone through multiple amendments in the as...

North Carolina Bitcoin Legislation

North Carolina Bitcoin Legislation Is Decent But Not Perfect No Comments

Bitcoin and regulation are two topics that will hardly ever go hand-in-hand these days. North Carolina Governor Pat McCrory has been signing a lot of legislative proposals as of late. Among these guidelines is a new set of Bitcoin legislation, allowing banks to “better regulate” the cryptocurrency in the state. So far, regulatory efforts for the Bitcoin space have not been overwhelmingly po...


BitLicense Has Done More Good Than Bad to the Bitcoin Sector No Comments

When BitLicense was introduced, it was hailed as a defining moment, where the government-less and regulation-less cryptocurrency platforms meet regulatory machinery set up by governments and centralized organizations. A bit over one year down the line, BitLicense is being constantly referred back to, in order to avoid doing the same mistakes. BitLicense, introduced by Benjamin Lawsky, then Supe...