Highlight Poll: Are New York’s BitLicense Rules Good or Bad for Bitcoin?
A recent analysis of the new Bitlicense rules released by New York state regulating crypto currency businesses by Jason M. Weinstein, a partner at the law firm of Steptoe & Johnson, declares them a “mixed bag.” Others, like the cyber rights watchdog the Electronic Frontier Foundation, have called them an unequivocal disaster for consumer privacy.
Where do you stand?
Take the highlight poll below to share your feelings on the matter. To participate, you will need a Medium account. Simply highlight the text that best reflects your opinion, and use the tooltip to select it.
- The rules are a useful first step towards establishing predictability in a fast-evolving arena with significant potential for consumer abuse, but more work will need to be done.
- The regulations are off the mark. They will hamper innovation and infringe rights without providing sufficient consumer protections.
- The rules will slow down some companies but the trade-offs are well balanced with other necessary consumer protections. Other states should follow New York’s lead.
Feel free to post a response to more fully express your views, or provide an alternative to the choices above.
Other Useful Links
After multiple proposals and significant industry comment, the NYDFS has released a final "BitLicense " framework that…www.natlawreview.com
June 3, 2015 Contact: Matt Anderson, 212-709-1691 Benjamin M. Lawsky, Superintendent of Financial Services, today…www.dfs.ny.gov