One of the most worrying aspects of the BitLicense regulatory framework is the exodus of Bitcoin companies in the New York State area. Over the past few weeks, it has become quite clear that companies deciding to be compliant with BitLicense might face some serious backlash from its users. For those of you who are wondering which companies are actively pursuing a BitLicense, the following short list will give you an idea.
Exchanges Are Split In Two Camps
The major target of BitLicense is Bitcoin exchanges, as these centralized services hold customer funds in both fiat currency and Bitcoin. It was only a matter of time until Bitcoin exchanges were labelled as money transmitters and with BitLicense regulation put in place, obtaining the required licensing has gotten a lot more expensive.
Several major Bitcoin exchanges have decided to comply with BitLicense regulatory requirements, although not all of them are on the same wavelength. Service providers such as Coinbase, Bitstamp, MonetaGo, Circle and Bittrex are all in the process of applying for their individual BitLicense,
Bittrex is of particular interest in this case, as it is the only virtual