Could the BitLicense Die Out?

New York has always offered sightseers some wonderful things. Between the Empire State Building, the Statue of Liberty and Broadway, all one has to do is stroll into the “city that doesn’t sleep” in order to have a good time.

But New York also has a dark side. A city that was once notorious for crime-ridden dark alleys and filth, New York now offers a whole new form of terror… the BitLicense.

Throughout the year, the document has witnessed growing dislike amongst bitcoin businesses and companies that would delve in digital currency. While former Superintendent Benjamin Lawsky and those currently in charge of cryptocurrency-related regulation would likely swear by the BitLicense’s “methods for correction,” others, particularly those in the bitcoin industry, would cite the document as something that not only halts innovation, but harms customer privacy.

Thus far, a number of businesses ranging from BitFinex to Kraken to LocalBitcoins have packed up and called it quits on the Big Apple, refusing to have anything to do with the limitations the BitLicense allegedly instills. Whether these limitations are in fact realities is quite irrelevant; one has to wonder… With so many companies leaving and so many likely to leave in the

Read more ... source: NewsBTC USA