Tagben lawsky

Empire State of Mind: Robinhood Wins New York’s Coveted BitLicense, Will Now Serve Crypto Traders

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By CCN.com: Today, Robinhood and LibertyX gained approval to work in virtual currencies in New York. Robinhood is a stock trading app that recently created some controversy when they released interest-bearing bank accounts that are not protected by the Securities Investor Protection Corporation. Robinhood Crypto The app will expand the company’s affiliation with cryptocurrencies for New Yorkers...

NYDFS Hastens Response to BitLicense Applications

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According to data obtained from the source – the New York Department of Financial Services itself – the financial regulator has only responded to 9 of 36 BitLicense applications submitted since 2015. Five have been denied, four have been approved, the rest are still going through the process. Fortune writer Robert Hackett became interested in the question after a speech given by Erik Voorhees...

Ripple Adds ‘BitLicense’ Architect Ben Lawsky to Board of Directors


BitLicense architect Ben Lawsky has joined fintech startup Ripple’s Board of Directors. Lawsky, a former federal prosecutor, was a thorn in the side of Wall Street banks during his tenure as the first-ever superintendent of the New York State Department of Financial Services. However, in the cryptocurrency ecosystem, he is best known for the role he played in regulating the nascent bitcoin...

Final New York Bitcoin Regulation Released: BitLicense


The New York Department of Financial Services has released the long-awaited BitLicense, 44-page document which amounts to a framework for “virtual currency” businesses to operate in the State of New York. The issue of regulation has long been a major issue in the digital currency world, as when things first kicked off, and people first started paying fiat money for bitcoins, there was...

New BitLicense and Public Comment Period Coming


The new BitLicense will open for a 30-day public comment period in just a few days. In a speech to the Bipartisan Policy Council, a Washington D.C. think tank, New York Department of Financial Services (NYDFS) Superintendent Ben Lawsky told the world about the new BitLicense’s impending release date as well as several planned changes.  Also read: NYDFS’s Ben Lawsky Reveals Plan for...

BitLicense Comments Reveal Western Union Wants Ben Lawsky to Approve Every Bitcoin ATM Location


Earlier today, NYDFS Ben Lawsky posted to Twitter stating that all the BitLicense comments received by the department have been published. All in all, the NYDFS received 3,746 comments from around the world. The vast majority of commentators are individuals are the average length of comments vary greatly. However, some notable large companies also submitted comments to the NYDFS to seek...

NYDFS’s Ben Lawsky Reveals Plans for Transitional BitLicense at #Money2020


As revealed for the first time earlier today, The New York Department of Financial Services plans to give “transitional BitLicenses” to certain smaller digital currency companies seeking to do business in New York. NYDFS Superintendent Ben Lawsky gave some updates to the NYDFS’s proposed BitLicense regulatory framework during his keynote speech at Money20/20. Lawsky repeated...

Lawsky Says Bitcoin Software Developers Won’t Need BitLicense


The BitLicense is continually evolving; today, the NYDFS has clarified that Bitcoin software developers do not need to apply for a BitLicense. Additionally, the official comment period on the proposed BitLicense regulations by the NYDFS has again been extended to accommodate the anticipated revised proposal. The NYDFS has promised to have a revised proposal for the public by the end of October...

Bitcoin Implication: USA Claims it has Rightful Access to Data Stored Abroad


The U.S. Government, currently in a legal battle against Microsoft, wants the latter to turn over a customer’s emails stored overseas that is suspected to be linked to a case of narco-trafficking. While the software editor denounces a flagrant infringement of privacy rights, the U.S. Government took refuge behind the argument that although the offending mail is located abroad, it is under...

NYDFS Extends BitLicense Bitcoin Regulation Comment Period


The BitLicense saga continues: Today, Ben Lawsky took to Twitter to announce that the New York Department of Financial Services (NYDFS) will be extending the official comment period for the proposed BitLicense regulatory framework. The original plan was to allow a 45-day comment period; around the world, this timeframe was criticized as being too short given the magnitude of the proposed...

NYDFS Promises Bitcoin Foundation More Information on BitLicense


The New York Department of Financial Services promised to provide the Bitcoin Foundation with more information on draft ‘DFS-29-14-00015-P,’ “Regulation of the conduct of Virtual Currency Businesses,” or otherwise known as the BitLicense, after the Foundation had filed with the NYDFS yesterday with concerns and comments, in accordance to the New York Freedom of Information...

Chamber of Digital Commerce Calls for BitLicense Extension

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The Chamber of Digital Commerce, located in Washington D.C., has been one of the major organizations spear-heading the BitLicense opposition. Chamber of Digital Commerce Founding President Perianne Boring has been vocally active against Ben Lawsky’s proposed BitLicense regulation recently at the North American Bitcoin Conference in Chicago. The Chamber of Digital Commerce then held a press...

Bruce Fenton Does Not Want You to Engage on BitLicense


Bruce Fenton, founder of Atlantic Financial Inc. and the Bitcoin Association, spoke this past weekend at the North American Bitcoin Conference in Chicago. The primary topic of his heated speech was that of Benjamin Lawsky and the proposed BitLicense in New York. While the topic has been on everyone’s tongue and has become quite the hot-button issue, Fenton has a different opinion on how people...

BitLicense Regulations Forked on GitHub by Bitcoin Community


On July 17, New York became the first state to attempt to regulate Bitcoin and other forms of cryptocurrency (referred to as virtual currency in the proposal). New York Department of Financial Services (NYDFS) Superintendent Ben Lawsky announced the so-called BitLicense proposal on Reddit. While some in the Bitcoin community welcome regulation as a validation of Bitcoin’s right to exist...

Satoshi Nakamoto is a Criminal Under Proposed BitLicense Regulations


Superintendent of Financial Services for the State of New York, Ben Lawsky, posted a new proposal for regulating Bitcoin companies on Reddit yesterday, and the Bitcoin community as a whole has reacted in a rather negative manner. The new BitLicense regulations would add a large amount of new legal overhead to the Bitcoin related companies operating in the state of New York, but the real issue...

Bitcoin companies respond to New York State Bitcoin regulation, welcome feedback


On Thursday, July 17, the New York State Department of Financial Services released a draft for their ‘Bitlicense’ Bitcoin regulation framework. This may be a huge step in government involvement in the Bitcoin industry, spearheaded by First Superintendent of Financial Services of New York State, Mr. Benjamin Lawsky. The NY Department of Financial Services has submitted this framework...

Ben Lawsky And NYDFS Reveal Proposed BitLicense Regulations


Today, Ben Lawsky, Superintendent of the New York Department of Financial Services (NYDFS), revealed the first state level attempt to regulate digital currencies such as Bitcoin: a BitLicense. One particularly thorny point in the sides of many Bitcoiners is the fact that the NYDFS chooses to refer to Bitcoin as a “virtual currency” as opposed to “digital money” or...

Here’s What Reddit Should Ask Superintendent Ben Lawsky During His AMA

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  Ben Lawsky, Superintendent of Financial Services for the State of New York, recently tweeted that he will try to do a Reddit AMA on Bitcoin regulation in the near future. This doesn’t mean that it will definitely happen, but it would probably be a positive event for both regulators and the Bitcoin community. After all, bitcoiners have been rather worried about some of the troublesome...