It's one thing to license it, but it's another thing to make it so complicated that you need consultants to figure out how to adhere to it. This consultancy companies are also part of the law makers in this process.
The sad part is, this is in no way a good thing for New York, because they are showing companies a closed door, when they want to create job opportunities for new innovative Bitcoin businesses.
Some regulation to protect consumers are acceptable, but this is surely overkill and serve a higher hidden agenda. {Slowing Bitcoin progress in the financial capital of the USA}