Bitstamp Stays in New York Despite BitLicense Exodus


In Jun 2015, New York strictly adopted BitLicense, a horizon of regulations directed during digital banking companies that possibly do business in New York State or do business with New York State residents. New York is a initial state in a U.S. to levy such regulations. Aug 8, 2015, was a deadline for such digital banking companies to request for BitLicense.

Instead of applying, many creditable digital banking platforms have left New York. A prolonged list of digital banking companies are no longer accessible in New York, including Bitfinex, Kraken, Paxful, BitQuick, GoCoin, and Shapeshift.

Amid a stream of effusive companies, one digital banking association is staying put. Bitstamp was a initial digital banking height to announce that they would be requesting for BitLicense.

Does Bitstamp feel that remaining in New York will give them an edge? Perhaps they are forging a trail for other digital banking companies who competence not get that warm-and-fuzzy feeling when it comes to shelling out a income to request for BitLicense.

Hidden Costs

It costs $5,000 only to request for BitLicense, and by a time a association is “in”, they will expected have spent nearby $20,000.

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