Looks like quite a few companies are operating under the grace period. Does anyone know how long that lasts?
The NY Bitlicense went into effect August 8, 2015 with a 45 days grace period for bitcoin exchanges to file for license.
The "safe harbor provision" means they are awaiting a response from the Superintendent for approval or denial of license.
(b)Approval or denial of application.
The superintendent shall approve or deny every application for a license hereunder within 90 days from the filing
of an application deemed by the superintendent to be complete. Such period of 90 days may be extended at the
discretion of the superintendent for such additional reasonable period of time as may be required to enable
compliance with this Part. A license issued pursuant to this Part shall remain in full force and effect until it is
surrendered by the Licensee, is revoked or suspended, or expires as provided in this Part.
According to the above, the "safe harbor provision" is 90 days but can be extended at their discretion.
Seems like the superintendent is sitting around with his thumb up his ass if only one has been approved so far.