Tag Archives: bitlicense

New Jersey wants to turn itself into the most crypto friendly region in America. That’s why it’s introducing the “Digital Assets and Blockchain Regulation” Act, which will permit decentralized autonomous organizations (DAOs) to establish themselves within the state’s borders and issue stock certificates and create tax incentives for digital currency firms. New Jersey Is Establishing New Digital Currency Laws New Jersey has been up and down in its relationship with digital assets. While some...

New York really doesn’t care about cryptocurrency, and the re-election of Governor Kathy Hochul is proof of this. New York Just Doesn’t Get It During this year’s midterm elections, Hochul ran against Lee Zeldin, who arguably had one of the most competitive republican campaigns in the Empire State in years. Right now, New York is facing a bill that’s been passed by the state legislature. The bill would enforce a moratorium on the crypto mining space and prevent all new digital currency...

The state of New York has introduced a new bill that if passed, would officially end all future proof of work (PoW) mining operations that want to call the Empire State home. New York Could End Crypto Mining for a While Right now, the bill is being discussed by the New York State Assembly in Albany, the region’s capital. The bill calls for a moratorium of not less than two years on all crypto mining operations within the state’s borders. The idea is to further study the...

Eric Adams – the mayor of New York City – has suggested doing away with the dreaded BitLicense as a way of allowing New York to become more competitive in the crypto and blockchain worlds. Will New York Get Rid of the BitLicense? The BitLicense was first introduced in 2014. The document made things very hard for crypto companies seeking to establish presences in the Big Apple. It also made it very difficult for them to gain customers. Under the BitLicense, things became...

Popular cryptocurrency exchange Coinbase is setting up an office in New York. Coinbase Is Opening an Office in New York Based in San Francisco, Coinbase has established itself as a leading digital currency trading hub following news in April that it would be the first crypto exchange in the history of the space to go public on the Nasdaq, though share trading has been somewhat of a rocky process. In addition, the company has recently added Dogecoin to its list of...

Paxos Trust – the official cryptocurrency partner of PayPal – has garnered more than $140 million in fresh funding through a Series C funding round.Paxos Trust Is Getting Its Hands on a Lot of MoneyThe round was led by a company known as Declaration Partners, an investment enterprise backed by billionaire and philanthropist David M. Rubenstein. Other companies to take part in the funding round include Mithril Capital, RIT Capital Partners, RRE Ventures and Liberty City Ventures.CEO of Paxos...

New York has always been strict when it comes to bitcoin and cryptocurrency, but now that PayPal has entered the crypto fray, it looks like the company’s position in the Big Apple just got a whole lot easier.PayPal Is Asserting Itself in New YorkIt has been announced that PayPal has been given what’s known to as a “conditional” BitLicense. The circumstances of the license are somewhat different from just a straight-up BitLicense application. The former permits PayPal to attach itself and work...

A new three-strike rule is now in effect for crypto businesses looking to apply for New York’s dreaded BitLicense.The Dreaded BitLicense Just Got a Lot WorseRegulators have issued a warning telling users that anyone looking to apply for a BitLicense could potentially have their applications thrown out or quickly rejected granted they do not follow the feedback or rules brought forth by New York-based lawmakers. Granted a rejection occurs three times, the company will not be permitted to try...

Here’s an interesting “reversal of attitude.” The state of New York – which up to this point, has been relatively anti-crypto – is suddenly announcing plans to launch its own cryptocurrency payment system in the coming years.Does New York Suddenly Love Crypto?This is strange given that New York has widely been criticized for stifling cryptocurrency and blockchain innovation within its borders. The state issued the dreaded BitLicense approximately five years ago.Many saw this document as a...

New York has never been a crypto-friendly haven. Thanks to the regulations set forth by the now infamous BitLicense, the Big Apple has garnered a reputation for allegedly being anti-blockchain.The BitLicense Is About to Lighten UpBut now, changes are being made to the region’s regulatory protocols that may make things easier for crypto companies looking to do business in the city that doesn’t sleep. The New York State Department of Financial Services (NYDFS) has suggested adding new...