Earlier this week, we reported that Poloniex, Kraken, and Bitfinex had terminated services in New York because of the state’s controversial BitLicense. Now more Bitcoin companies have announced plans to cease operations in the state.
LocalBitcoins.com – a Finnish-based peer-to-peer Bitcoin trading service – stated in a blog post published Wednesday that New York residents would no longer be able to use the service because of BitLicense.
“As the BitLicense is time consuming, expensive and difficult to obtain for anything but large companies we’ve taken the decision to protect our US based traders and not allow New York based users to our services,” the company said.
LocalBitcoins added, “This is an unfortunate state of affairs and we hope that the regulation will in the future accommodate small time bitcoin sellers who do not have the possibility to comply with regulations made for big financial institutions.”
Another P2P Bitcoin trading platform, BitQuick, announced Tuesday that New