http://blogs.wsj.com/moneybeat/2014/08/20/bitbeat-chinese-bitcoin-exchanges-send-letter-to-lawsky/The BitLicense proposal has come under increasing fire from the bitcoin industry. Several petitions and requests for an extension of the open-comment period have been filed. As well, last week Circle’s Jeremy Allaire publicly said that the proposal was too draconian, and if implemented as proposed would force him to “geofence” New York, essentially blocking New York residents from its online services. What was initially seen generally by the bitcoin community as a prudent response to virtual currencies is now being seen as something far more restrictive.
