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Author Topic: [2014-07-17] CD: New York Reveals BitLicense Framework for Bitcoin Businesses  (Read 1102 times)
LiteCoinGuy
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July 17, 2014, 05:51:55 PM
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New York Reveals BitLicense Framework for Bitcoin Businesses

http://www.coindesk.com/new-york-reveals-bitlicense-framework-bitcoin-businesses/


i think all in all it seems okay for new york. the rest of the world will give a shit but thats the other part  Smiley

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July 17, 2014, 06:37:23 PM
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SuperNintendo speaks:

http://video.cnbc.com/gallery/?video=3000293269&play=1

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July 17, 2014, 06:48:07 PM
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New York Reveals BitLicense Framework for Bitcoin Businesses

http://www.coindesk.com/new-york-reveals-bitlicense-framework-bitcoin-businesses/


i think all in all it seems okay for new york. the rest of the world will give a shit but thats the other part  Smiley
"....Businesses that do not apply within 45 days face criminal prosecution for running an unlicensed digital currency company, the document concludes". Great news for NY  Wink But who cares - that's NY  Smiley BTC in the rest of the world remains unregulated.  Grin
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July 18, 2014, 12:12:10 AM
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The government playbook here (as we experienced with medical marijuana in the 80s) is to mandate the license then grant zero licenses.  It says the application fee is non refundable.  Be advised, bitlicense starting to look like a scam.
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July 18, 2014, 02:51:26 AM
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These regulations are a real shame for startups and innovation IMO.

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July 18, 2014, 03:55:39 AM
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The government playbook here (as we experienced with medical marijuana in the 80s) is to mandate the license then grant zero licenses.  It says the application fee is non refundable.  Be advised, bitlicense starting to look like a scam.

Traditional money transmitter licenses are also non-refundable in every state. That's because an application fee is the fee for reviewing and processing an application, and you can un-review an application. Some states do have separate fees, one for applying and one for issuance, however. Remove the tin foil.

In fact, I can't think of any application fees that are refundable. It just doesn't make sense.
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