BitPay Asks for Help in Saving Bitcoin from Banker Puppet Ben Lawsky
Today, BitPay’s Chief Compliance Officer, Tim Byun, submitted his company’s response to the New York Department of Financial Services’ (NYDFS) proposed regulations for virtual currency businesses, also known as BitLicense.
Ben Lawsky, New York’s Superintendent of Financial Services, is spearheading new legislation that would create an unlevel playing field for Bitcoin and other cryptocurrencies. The BitLicense would essentially handicap Bitcoin and make it both impractical and embarrassing to use. The restrictions would basically paint Bitcoin users as suspicious cyber criminals.
Byun appealed to Superintendent Lawsky for common sense in today’s letter:
This post was published at Altcoin Press on Greg Matthews On October 20, 2014.