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New York State Releases Revised BitLicense Proposal
The New York State Department of Financial Services has released a revised version of its BitLicense proposal.
The New York State Department of Financial Services (NYDFS) has released a revised version of its BitLicense proposal.
First revealed in July, the new framework comes after a lengthy, 90-day comment period for the proposed regulation, which saw notable names from both within and outside of the bitcoin industry weigh in on the proposal.
STORY CONTINUES BELOW
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The finalized bill includes previously announced changes, like exclusions for software providers, gift card companies and those who seek to use blockchain tokens for non-financial purposes.
A spokesperson for the NYDFS indicated that an official version of the amended proposal will be published next week in the State Register.
This filing will set off another 30-day comment period in which the public can weigh in on the proposed changes before the BitLicense is finalized.
The NYDFS had earlier indicated that the framework would be available in January.
CoinDesk is monitoring this developing story.
Pete Rizzo
Pete Rizzo was CoinDesk's editor-in-chief until September 2019. Prior to joining CoinDesk in 2013, he was an editor at payments news source PYMNTS.com.
