[2016-10-31] New York's bitcoin hub dreams fade with licensing backlog

[Karartma1]

New York's financial regulator had sights set on becoming a global hub for innovations like bitcoin when it adopted trailblazing virtual currency rules last year. But the state lost that momentum when the agency's chief left, putting a licensing process in limbo and allowing rivals to catch up.

Since June 2015, New York has required virtual currency firms doing business there to get a "BitLicense" to hold customer funds and exchange virtual coins for dollars and other regular currencies.

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http://www.reuters.com/article/us-bitcoin-regulations-dfs-idUSKBN12V0CM

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[Goms]

I wonder if that has anything to do with Hillary not endorsing bitcoin.

[Kprawn]

The BitLicense thing has been a money making scheme for the local government from the start and also a barrier to entry for the people who

cannot afford the license. This is just one of the ways that the higher powers in control of the financial world, can determine who makes it and

who does not make it. This is not what Satoshi wanted, when he created this technology. Bitcoin should benefit everyone, not just the elite

and the rich people.