BitLicense Blowback No Surprise to NYDFS Officials

Just as it seemed like the dust was settling around the New York Department of Financial Services (NYDFS) BitLicense regulations released last week, Erik Voorhees of raised new criticisms of the NYDFS, calling them “Orwellian” and making comparisons to North Korea.

NYDFS’s Matt Anderson was not surprised, telling Bitcoin Magazine: “We always recognized that there is going to be some part of this community that is against even pretty standard financial regulatory oversight measures, such as anti-money laundering controls and other consumer protections. That said, one digital currency company has already received a license from NYDFS and a number of others have stated they intend to seek BitLicenses shortly.”

Although is a Switzerland-based exchange, it has cut off service to it’s New York State customers who are redirected to its website, with an explanation of why they are leaving New York and how bitcoin and blockchain technology can prevent fraud and identity theft.

The website calls on other digital currency companies to suspend service to their New York state customers and redirect its website to the PleaseProtectConsumers page.

Voorhees’ company, which provides exchange services without asking customers for identifying information, recently launched the first digital currency exchange app for iOS.

Lots of unhappy campers in

Read more ... source: Bitcoin Magazine