Just as other exchanges such as Kraken and BitFinex are pulling up roots and leaving New York because of the controversial BitLicense program, New York-based digital currencies exchange Coinsetter has decided to stay and has submitted a BitLicense application to the New York Department of Financial Services.
CEO Jaron Lukasiewicz said that despite reservations, he has decided to bite the bullet.
“We will take a more difficult path in order to make sure New York residents continue to have a high-quality bitcoin exchange available to them,” Lukasiewicz said. “We have had a couple of customers close their accounts in protest to the BitLicense over the past week, but our company has not historically appealed to the anti-regulation crowd in general. As a long time bitcoiner, I certainly understand this sentiment, but as an exchange owner, my regulatory requirements are clear and not something I will avoid.”
As was reported by Bitcoin Magazine on Tuesday, digital currencies exchange Kraken became the third company