Bitcoin Foundation Seeks to Extend Comment Period for New York's BitLicense

The Bitcoin Foundation has thrown its weight behind efforts to extend the 45 day-long comment period for the BitLicense proposal drafted and recently released by the New York Department of Financial Services (NYDFS).

The foundation requested in its letter that the state regulator provide it with the risk assessments drawn up during the BitLicense development period. The NYDFS has since responded that it would provide this information in the next 20 days, and the foundation pledged on 6th August that it will make this information available for review prior to the close of the comment period.

Harper argued in the letter that, ultimately, the NYDFS has much to gain from collaborating with the bitcoin community on the issue, saying:

Harper added in the letter that the foundation will be submitting further comment on a range of issues related to the BitLicense, although it remains to be seen what the organization will focus on. He went on to urge the NYDFS to engage both industry leaders and the grassroots-level supporters, who Harper said can provide unique perspective if tapped as a resource.

The community itself, for the most part, remains divided on the BitLicense question. For many, the regulations represent either an opportunity to bring bitcoin companies in the mainstream or a potential barrier to innovation in the space.

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