Lawsky Announces Revisions to BitLicense Proposal- Available to Public in Coming Days

Image credited to the New York Times.

Today at the Bipartisan Policy Center, Benjamen Lawsky announced the latest updates to the BitLicense proposal which will be posted online and available for public comments in the next couple of days. The superintendent of the New York Department of Financial Services (NYDFS) maintains the regulations will only effect financial intermediaries, rather than software developers or miners. Lawsky emphasized the revised proposal is meant to provide more flexibility to fledgling start ups and encourage innovation. Furthermore, the record keeping requirement for those licensed has been reduced from 10 to seven years.

The final drat for the BitLicense proposal is expected in January.

 

Want more? Click here.

Website | + posts

Olivia is a graduate of Villanova University where she studied Economics and History, minoring in Gender and Women's Studies. She also has experience working with federal legislatures on health care policy, women's issues, and Internet safety.

Share

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

Subscribe to get the latest consumer news

More consumer News