BitLicense at 5: A Timeline of New York’s Landmark Cryptocurrency Regulation
The BitLicense was first proposed in 2013, but wasn't implemented until mid-2015. CoinDesk outlines the major events in its history.
BitLicense
The regulator hopes the new three-strike rule will encourage BitLicense applicants to ensure they've taken its feedback on board.
As the BitLicense turns five, the issuing watchdog looks to lure blockchain startups to New York, while a major brokerage firm is pivoting to crypto.
NYDFS Superintendent Linda Lacewell said she decided to review the regulator's landmark virtual currency license in light of its impending 5-year anniversary.
While some exchanges left New York in the wake of its implementing the BitLicense, others say the regulatory regime have helped build market share and revenue.
Few states have developed their own cryptocurrency regulations – and none that did build a regulatory regime have followed the New York model.
