The city of New York is known for its rash decisions at times, especially when it comes to attempts at regulating decentralized and disruptive technologies. Bitcoin regulation in New York, still requires improvement, but it looks like the city council has learned its lesson. After a spat between New York and Uber, both parties managed to come to a last-minute agreement to evaluate the situation further.
Further Evaluation Of The Situation Is Warranted
Technological innovation is accelerating at an alarming speed in recent years, causing many headaches for governments, city officials, and regulators. Bitcoin has been the centre of a year-long study on how to regulate it in the city of New York; the end result has led to a small exodus of Bitcoin companies due to harsh and rash regulatory compliance requirements.