[2015-06-19] BitLicense Shoots Down Another Bitcoin Company in New York

[tyz]

If New York was Jurassic World, BitLicense would undoubtedly be its Indominus Rex. The highly constrained New York Bitcoin regulatory framework has apparently forced another local company to shutdown its operations. This time, it is Eobot, a Bitcoin cloud miner, which decided to take down its banners within New York, stating that the state’s new license requirements are putting additional cost burdens on them.

http://coinyoo.com/2015/06/19/bitlicense-shoots-down-another-bitcoin-company-in-new-york/

[Kprawn]

And this is why many companies are setting up shop in Bitcoin friendly states or countries.

The BitLicense is the biggest scam going round in New York. It scams legitimate companies out of the opportunity to make a decent living.

It kills innovation and stop smaller companies to enter the business world and it stifle a fledgling privacy-enhancing industry.

Ben Lawsky and his friends made sure Bitcoin cannot get a foot in the door in New York.

[jjacob]

This is probably a good thing.
New York can remain the financial capital of the fiat world.

[bryant.coleman]

And this is why many companies are setting up shop in Bitcoin friendly states or countries.

Well.. that is the advantage with Bitcoin. As long as these idiots can't ban internet as a whole, Bitcoin companies will be able to service anyone around the world. These banned ventures should just set up their offices in Singapore or Switzerland, or any other country which supports Bitcoins. They should then continue serving the New Yorkers. The idiots will realize it when the tax revenues, which should have gone to them, vanish in to the pockets of the Swiss tax authority instead.