[2015-06-11] Bitcoin Exchange ShapeShift Shuts Down NY Operations...

[tyz]

Bitcoin Exchange ShapeShift Shuts Down NY Operations, Protesting ‘BitLicense’

Erik Voorhees-led Bitcoin exchange ShapeShift has decided to shut down its New York City operations, protesting the recently released Bitcoin regulations, CNBC reported today.

The final BitLicense regulation demands that Bitcoin businesses record personal information of its users (through the KYC norm) and the cryptocurrency swapping place is not comfortable violating its policy of not storing any personal information of its customers.

http://coinyoo.com/2015/06/11/bitcoin-exchange-shapeshift-shuts-down-ny-operations-protesting-bitlicense/

[pawel7777]

It's a shame that Shapeshift was being forced to comply with KYC, which is totally not feasible for their business model.
There definitely should be exemptions for small transactions and shapeshift already have the limits set rather low.

Maybe I would be sorry for Erik Voorhees if he repaid investors of his past projects...

Out of curiosity, which projects do you mean?

[odolvlobo]

Maybe I would be sorry for Erik Voorhees if he repaid investors of his past projects...

Out of curiosity, which projects do you mean?

Mainly Feedzebirds, but he was also involved in Bitinstant.

He also dumped his SatoshiDice shares on the market, causing the share value to plummet, and then did a force buyback of the shares at the reduced price.

[pawel7777]

Maybe I would be sorry for Erik Voorhees if he repaid investors of his past projects...

Out of curiosity, which projects do you mean?

Mainly Feedzebirds, but he was also involved in Bitinstant.

Thanks, didn't know that. I see he's got some negative feedback re feedzebirds, but overall showing 'green' with default trust view.

https://bitcointalk.org/index.php?action=trust;u=12149

Edit: I dug up one article describing his past actions:

http://www.bloombergview.com/articles/2014-06-03/illegal-bitcoin-ipo-actually-worked-out-pretty-well-for-investors