Kraken and BitFinex Discontinue Bitcoin Services in New York / Gola Yashu / August 10, 2015

Bitcoin exchanges Kraken and BitFinex has decided to discontinue their services in the New York City.

With the announcement, the two exchanges joined the ranks of a one-too-many Bitcoin companies that have left the Empire state citing concerns with its recent licensing act, the BitLicense. Enacted and imposed by the New York Department of Financial Services (NYDFS), the new digital currency regulatory framework has raised many eyebrows for allegedly impeding the growth of FinTech startups.

Kraken highlighted it amusingly in its Sunday’s blogpost, calling BitLicense a “creature so foul, so cruel that not even [they] possess the courage or strength to face its nasty, big, pointy teeth.”