Is the BitLicense About to Lighten Up on Crypto Ventures?

The New York State Department of Financial Services (NYDFS) has suggested adding new legislation and updating the BitLicense so that crypto companies to add more digital coins to their offerings. This way, there’s no confusion about which coins are acceptable when a crypto company is looking to offer its services in the Big Apple.

Reactions to the BitLicense’s introduction in 2015 have been somewhat mixed, with some companies – such as the Gemini Exchange operated by the Winklevoss Twins – seeking to garner licenses right away so that services can be offered to New York residents. Thus, many companies have simply packed up their bags and left the Big Apple, swearing to avoid all further business within the region.

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