NY BITCOIN LICENSE REGULATIONS ARE HERE

[RodeoX]

I think we should have gotten a better deal. Some of the rules are going to be difficult to implement for basic users. It is starting to look like NYC is out of the running as a financial leader in the future.  Let's hope other states make far better decisions or America may loose it's edge as a bitcoin friendly country.

[1714852394]

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[1714852394]

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[1714852394]

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[Tzupy]

http://www.cryptocoinsnews.com/news/proposed-bitcoin-regulation-bitlicense-shut-mining-bitcoin-businesses-us/2014/07/20

[GrandmaJean]

I think we should have gotten a better deal. Some of the rules are going to be difficult to implement for basic users. It is starting to look like NYC is out of the running as a financial leader in the future.  Let's hope other states make far better decisions or America may loose it's edge as a bitcoin friendly country.

the license really only applies to exchanges and businesses that act as exchanges so it will not affect most bitcoin related businesses. The regulations are to make it so we don't have an exchange operator lose all of their customers' bitcoin

[becoin]

The regulations are to make it so we don't have an exchange operator lose all of their customers' bitcoin

This is not necessary. Leave it to market!

Forget about regulating something you've no control of. You don't have the bitcoin printing press! Bitcoin is not fiat money. It can't be printed at will of any government. If exchanges are regulated and even then they lose customers' bitcoins how will you compensate their customers? You can't "print" more bitcoins just like you can't "print" more gold or silver.

[Hyena]

The regulations are to make it so we don't have an exchange operator lose all of their customers' bitcoin

This is not necessary. Leave it to market!

Forget about regulating something you've no control of. You don't have the bitcoin printing press! Bitcoin is not fiat money. It can't be printed at will of any government. If exchanges are regulated and even then they lose customers' bitcoins how will you compensate their customers? You can't "print" more bitcoins just like you can't "print" more gold or silver.

I'd like to see them regulating friend-to-friend trading.