COIN CONGRESS SAN FRANCISCO July 23, 2014 — The newly formed Chamber of
Digital Commerce finds the New York Department of Financial Services (NYDFS)
proposed BitLicense rules and regulations to be severely debilitating to the digital
currency industry.
Despite Ben Lawsky’s claims that these proposed regulations are intended to be
guardrails to “protect consumers and root out illegal activity – without stifling beneficial
innovation” these rules could potentially crush the Bitcoin industry in New York and
stifle jobs, investment, and innovation. The Digital Chamber agrees that we need