NEW YORK – On Thursday September 4th 2014, Raymond Cline, Executive Director of Bitcoin Center NYC met with New York Department of Financial Services official Dana Syracuse at the NYDFS headquarters in New York to discuss the proposed digital currency regulations known as the “BitLicense.”
Although no new information was shared at the meeting, the NYDFS stressed that they have been receiving less feedback than they hoped to by extending the public comment period. It is imperative that the Bitcoin community continues to submit their feedback on the BitLicense during this extended commentary period. Specifically, the NYDFS is looking for information about the BitLicense’s impact on small and medium sized Bitcoin businesses; a topic we stressed was of great importance.
This meeting came shortly after Bitcoin Center NYC founder Nick Spanos took part in a Bitcoin educational meeting for Congressional staffers that occurred in Washington D.C.
Make no mistake, this is a call to action. If Bitcoin should receive fair and favorable regulation it is up to the community to make sure that the regulators have a clear understanding of the faults in their proposal. If you have not yet sent in your feedback, please take some time to do so now. The future is in our hands.
The original BitLicense proposal is available here: http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdf
Instructions for sending commentary to NYDFS is available at this address:http://www.dfs.ny.gov/legal/vcrf_submit_comments.htm