The Real Cost of Applying for a New York BitLicense

[Mickeyb]

This is really a lot of money for any Bitcoin business. $100,000 is a lot even for a huge exchange like Bitstamp is. I would like that no one applies for the BitLicense so they stay out of the game completely, f**k NY, they don't deserve better.

This license is just another way to steal money from the people, nothing else.

[ashour]

Frost estimated the application cost Bitstamp roughly $100,000, including time allocation, legal and compliance fees.

Jaron Lukasiewicz, CEO and founder of Coinsetter, noted his company had spent approximately $50,000 on BitLicense-related expenses over the past two years. "I think its bigger cost, though, has been in the uncertainty it created for investors looking to invest in our space – hopefully that will begin to reverse itself now."

Why the cost between Bitstamp and Coinsetter is different


http://www.coindesk.com/real-cost-applying-new-york-bitlicense/

It really is expensive for bitcoin businesses. But for the businesses that apply for one it is probably worth it.

[ashour]

This is really a lot of money for any Bitcoin business. $100,000 is a lot even for a huge exchange like Bitstamp is. I would like that no one applies for the BitLicense so they stay out of the game completely, f**k NY, they don't deserve better.

This license is just another way to steal money from the people, nothing else.

I think that most of these services that apply for a bit license actually benefit from it. Maybe legal benefits or social security benefits or just to tell the government that "Hey we are a legal company that deals with bitcoin and we have nothing to hide"