[2014-08-22] New York Can’t Risk Getting Bitcoin Regulation Wrong

[zakoliverz]

http://www.coindesk.com/ben-lawsky-bitcoin-regulation/

The New York Department of Financial Services (NYDFS) announced today it would extend the comment period for its proposed bitcoin regulations by 45 days, citing significant public interest in the rules as a key reason behind the decision.

In a new interview with CoinDesk, NYDFS superintendent Benjamin M Lawsky opened up about the decision, emphasizing that he felt the extension both necessary and reasonable given his agency’s need to ensure that the proposed laws, when enacted, have the desired consequences.

[marcus_of_augustus]

... can't wait until the release of LawskyCoin alt ... should be best pump 'n dump ever, most likely a blackcoin or darkcoin fork, rife with fraud, cartels and minimal "consumer protection" rackets I'm expecting ...

[IYFTech]

Those control freaks in the US can introduce all the regulation & laws they like - they will simply get ignored throughout the world, leaving the US lagging even further behind in the Bitcoin boom. All their regulation & laws didn't do squat with the banksters - trying the same trick with Bitcoin simply will not work & will show them to be the backwards thinking OAP's that they are.
China can do what it wants - it owns the US. What a laugh 

[Carlton Banks]

Serious lols at the Windows XP desktop on the monitors in the photo of Lawsky. Tells you pretty much all you need to know

[notthematrix]

Those control freaks in the US can introduce all the regulation & laws they like - they will simply get ignored throughout the world, leaving the US lagging even further behind in the Bitcoin boom. All their regulation & laws didn't do squat with the banksters - trying the same trick with Bitcoin simply will not work & will show them to be the backwards thinking OAP's that they are.
China can do what it wants - it owns the US. What a laugh  

exactley look at http://www.btc-e.com
they do yuan to bitcoin
           bitcoin to yuan
           diriect deposit to creditcards
           rubble to bitcoin
           bitcoin to ruble
           euro to bitcoin
           bitcoin to euro
           dollar to bitcoin
           bitcoin to dollar
            
And NEVER had ANY problems at all since the begining of bitcoin!
Why?
Welcome to the world of offshore banking.....
http://www.aspenassurance.com/offshore-banking-licenses


      

[aigeezer]

Serious lols at the Windows XP desktop on the monitors in the photo of Lawsky. Tells you pretty much all you need to know

Woot - good eye! I was distracted by the picture of the man himself - it should be the illustration on encyclopedia entries for "hubris".

[Carlton Banks]

I was distracted by the picture of the man himself - it should be the illustration on encyclopedia entries for "hubris".

My entry for the Ben Lawsky caption competition: "KILLER MAN-EATING SUIT HITS NEW YORK"

[aigeezer]

I was distracted by the picture of the man himself - it should be the illustration on encyclopedia entries for "hubris".

My entry for the Ben Lawsky caption competition: "KILLER MAN-EATING SUIT HITS NEW YORK"

That suit is something else - remember when civil servants were a bit bedraggled-looking? "Not much income but good job security". Seems a long time ago.

I was toying with the idea of a photo caption thread too. My first entries would be "NY man demonstrates method to prevent desk levitation" or, more simply, "it shall not rise" leaving the viewer to wonder whether the pronoun refers to BTC or the desk. Also (imagining viewers a few decades from now) "Civil servant on the job in late-empire America", or of course the too-easy "Your tax dollars at work".

It's gonna blow!     

[Carlton Banks]

Also (imagining viewers a few decades from now) "Civil servant on the job in late-empire America"

It's hard to believe even in this era that people think that man + suit + desk isn't just a subtle confidence trick. You can put just about anyone behind a desk or lectern, and most will accept just about anything they say read from a teleprompter. It will be looked back on as the hallmark of legalised criminality in the 20th century (with the traditional ~1 decade cultural overhang into the 21st). In my experience, that's exactly what all these suited corporate neo-lords represent; gangsterism by statute.

[TheButterZone]

The desired consequences are infringements of victimless economic liberty. They can extend the comment period 4500, 45,000 days, the result will be the same.

[LiteCoinGuy]

so do it right supernintendo!

[cr1776]

The desired consequences are infringements of victimless economic liberty. They can extend the comment period 4500, 45,000 days, the result will be the same.

I think you hit the nail on the head: vague-enough laws that some bureaucracy can be hired to fill it to make some rules that are vague enough to be thrown at someone who is the current target.