New York lawyers may reconsider the attitude to BitLicense[↻70%]

BitLicense - the regulatory framework that determines the working conditions of # bitcoin - and # of blocking companies in New York - may soon be revised. This opinion was expressed by local politicians and lawyers following the results of the roundtable held on Friday, February 23.

BitLicense was adopted in the summer of 2015 by the Financial Services Authority of New York (NYDFS), and as expected, with its introduction, crypto-exchange companies will have the opportunity to work in a regulated environment and be protected by the state. The effect, however, turned out to be the opposite: for many start-ups, the proposed conditions proved unacceptable, not only from the regulatory point of view, but also for purely financial reasons. As a result, a large number of industry representatives simply stopped working in the state of New York, and only four companies work under BitLicense rules today: Circle, Ripple, Coinbase and Japanese bitFlyer.

Talk about the need to cancel BitLicense or revise the terms of its provision has been underway for several years already, and as it now became known, the relevant law could soon be submitted to the State Senate. At least, this is what David Carlucci said about the results of the roundtable held on Friday.

"We want to discuss all these issues and understand how to make this license work for the residents of New York State and its economy," Carlucci said.

Despite the fact that there are no guarantees of future changes in the procedure for issuing a license, the activists announced their intention to continue the dialogue and hold a number of similar meetings.