New York bitcoin license is still standing to sue NYDFS dismissed Theo Zeno

New York bitcoin license is still standing to sue NYDFS dismissed Theo Zeno

In May 4th, the executive director of bitcoin foundation does not want Luci Billings (LucyBillings) the judge dismissed about bitcoin license in the prosecution case and Theo Zeno (TheoChino) and the New York Financial Services Authority (NYDFS) support NYDFS.

“Billings should not judge in May 4, 2017 rejected the NYDFS not set reasonable bitcoin license charges.” Lou Claasen (LlewClaasen) in a letter on the subject said in the email. In this case, Kino sued NYDFS ultra vires the disputed 2015 “virtual currency” Regulations – New York code twenty-third chapter first section of the 200th part.

According to the bitcoin Foundation’s statement, Kino and his lawyer Pierre Cilic (PierreCiric) is trying to develop a global precedent before NYDFS, stop bitcoin license supervision. They are going to this challenge has been appealed to the Supreme Court of New York. This is considered to be a lengthy legal process.

Kino’s argument is that the state legislature has the power to define bitcoin, and should not be NYDFS. He alleged that in 2015 NYDFS issued a controversial “virtual currency regulations – New York code” twenty-third chapter first section of the 200th part, illegal and arbitrary acts and beyond regulatory powers.

Klasen explained:

“In March 16, 2017, Mr. Chino first appeared in judge Luci Billings’s hearing. The judge is not in accordance with the New York Financial Services Authority (NYDFS) request to dismiss the case, but to listen to all the facts and legal issues of Chino bitcoin this license, and oral arguments on all issues of re arrangement of May 2017. This is not a hasty trial judge, he is serious about anything.”

The bitcoin foundation has insisted that the design of bitcoin license regulations are not comprehensive, and since its launch in June 2015, has destroyed the bitcoin innovation in New York.

Bitcoin funds will tend to see the United States and regulatory agencies around the world will not begin to simulate “bitcoin regulations” in the case of New York, so it supports Kino’s move.

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