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Author Topic: [2016-09-16]NYDFS Puts Additional Regulatory Burdens on Bitcoin Sector  (Read 429 times)
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September 16, 2016, 08:25:26 PM
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NYDFS Puts Additional Regulatory Burdens on Bitcoin Sector

The New York Department of Financial Service (NYDFS) has published a new cybersecurity regulation draft which might have a direct-indirect impact on the state’s Bitcoin industry growth. Touted as the regulation that would limit consumers’ exposure to cyber attacks, the aforementioned law is likely to put additional legal burdens on the New York’s freshly brewing Bitcoin sector. The state’s FinTech entrepreneurs were already facing troubles in complying with a draconian BitLicense law...

http://www.newsbtc.com/2016/09/16/nysdfs-adds-cybersecurity-policy-burden/
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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March 05, 2017, 04:43:30 PM
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That is why we need to fight the NYDFS ....

New motion @PierreCiric includes @Jim_Harper affidavit in support due to lack of information on #Bitcoin reasearch - http://www.article78againstnydfs.com

Read the whole document here:
http://www.article78againstnydfs.com/docs/Index-101880-15/07-OurNewMotionForLimitedDiscovery/TabD-HarperAffidavit.pdf

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Theo Chino
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March 05, 2017, 10:35:48 PM
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That is why we need to fight the NYDFS ....

Fighting a gangster turf protection model on it's own terms isn't going to work IMO. Either outcompete them till they beg you to return to New York, or make them permanently irrelevant. That will get their attention, but it won't matter anyway, because they'll no longer be relevant either way.

Vires in numeris
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March 07, 2017, 10:26:46 PM
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You haven't seen this document ...

It's a draft legislation pushed by the Coin Center: (57 pages but page 4 of the doc is what my lawsuit is about.)
http://www.uniformlaws.org/shared/docs/regulation%20of%20virtual%20currencies/2017mar_RVCBA_Mtg%20Draft.pdf

You can read Coin Center post.
https://coincenter.org/link/one-of-bitcoin-s-best-bets-for-sound-regulation-is-about-to-wrap-up

https://coincenter.org/entry/second-comment-on-the-uniform-law-commission-s-uniform-regulation-of-virtual-currency-businesses-act
"We generally support the current draft and have filed this comment to address some residual concerns with this important model legislation. "


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March 07, 2017, 10:36:54 PM
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The whole shabang

http://www.uniformlaws.org/Committee.aspx?title=Regulation%20of%20Virtual%20Currency%20Businesses%20Act

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