Bitcoin startups/companies leaving/banning NYC is exactly what the Bitlicense is intended for.
They don't want you there. They want a piece of the pie - no the whole pie. And none of the Fintech startups or VC get to have a slice. That is all.
Exemption from licensing requirements. The following Persons are exempt from the licensing requirements otherwise applicable under this Part: (1) Persons that are chartered under the New York Banking Law and are approved by the superintendent to engage in Virtual Currency Business Activity
Source http://www.dfs.ny.gov/legal/regulations/adoptions/dfsp200t.pdf
Posted Aug 12, 2015, 4:26 PM UTC · edited
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