More Time to Comment on N.Y.’s Bitlicense Proposal (Aug. 25, 2014)
In the wake of a flood of interest in a regulatory framework for digital currency companies proposed by New York State’s Department of Financial Services, the DFS has doubled the length of the comment period to 90 days. Comments now will be due Oct. 21. The DFS said it has received a large volume of requests for more information and additional time to study the proposal. It’s widely believed the state’s framework for licensing companies involved in decentralized digital currencies, such as Bitcoin, could serve as a model for other states. The DFS published its proposed Bitlicense regulatory framework for digital currency businesses in the July 23, 2014 edition (page 14) of the New York State Register. Public comments on this proposal may be submitted to: DFS Office of General Counsel – Dana V. Syracuse, New York State Department of Financial Services, One State Street, New York, NY 10004, or email: firstname.lastname@example.org.
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