The bitcoin community signed a petition calling for a relaxation of regulation BitLicense

The bitcoin community signed a petition calling for a relaxation of regulation BitLicense

The petition is filed by Coin Center Alan Wright (Aaron Wright) and the Yale University School of law Elizabeth Stark (Elizabeth Stark) jointly authored, they are still collecting signatures, hoping that the New York Financial Services Department to pay attention to and solve the problem.

From the more than 70 digital currency industry enterprises, executives and advocates signed a petition calling for New York to loose or eradicate BitLicense heavy regulation.

At the end of the public comment period, including Coinbase, Blockstream, BitPay, Circle, Ripple, Labs, digital currency companies and well-known developers and venture capitalists have submitted a review.

Stark said:

“This petition is the goal of the important opinion of the community together, rather than scattered different opinions, people more power.”

The petition also includes the definition of the scope of small entrepreneurial firms, those that operate in less than 2 years of startups.

The full version of the petition will be up to 15-20 pages, is still being perfected, stark added.

Community response

Multi signature hardware wallet CryptoLabs CEO Melanie Shapiro (Melanie Shapiro) in an interview, the idea:

“I believe, 24 months for the early start-up companies, is to overcome resistance and make BitLicense pay for the opportunity.”

Startups FreshPay co-founder Brandon Gogh Shing (Brandon Goldman) stressed that, for any bitcoin startups regulations should be clear and reasonable.”

API development tools Subledger founder Tom Mornini is further argued that the current BitLicense will damage the development of the community, will be forced to move away from the city of New York innovation company.

“As a serial entrepreneur, I know this (BitLicense) is bad for New York, even may not be conducive to the United States, is even more terrible for encryption and related monetary entrepreneurs,” he said.

Overall, we believe that the message, the New York Department of financial services (NYDFS) to the rules in some places is “unreasonable”, that the open source protocol developers, micro payment providers, security agencies and small enterprises should be excluded from certain supervision within the scope of.

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