Bitlicense
| BitLicense - a license issued by the New York State Department of Financial Services. It regulates cryptocurrency business activities in New York. The BitLicense was first proposed in July 2014 by the New York State Department of Financial Services. The license is required for any business that deals with cryptocurrencies in New York. The purpose of the license is to protect consumers and prevent money laundering. The BitLicense has been controversial. Some businesses have complained that the application process is onerous and the requirements are too burdensome. Others have argue that the license is necessary to protect consumers and prevent money laundering. The New York State Department of Financial Services has issued 22 BitLicenses as of June 2018. |
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