Bitcoin and the NY Bitlicence Proposed Regulations

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Thoughts on Ben Lawsky and his proposed Bitcoin ban.

Ben Lawsky of the New York Department of Financial Services NYDFS has proposed some very onerous and extreme regulations surrounding Bitcoin which amount to essentially a ban on ideas, technology, innovation and jobs in one of the hottest and fastest growing sectors of investment.

It is key to be honest about these proposed laws and regulations and ask what the moral authority and even legal authority of Ben Lawsky is in this new area.

Lawsky is unelected and has no mandate to overstep in this manner.

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20 COMMENTS

  1. fuck this guy! whats wrong with you people? Bitcoin IS NOT real money! It must be DESTROYED, ANNIHILATED, MUTILATED, BROKE TO PIECES! whats next? Bitfood? Bitwater? the world is gonna become total anarchy if it is legal to buy things with a virtual money! like holy fuck all a hacker has to do is put 1000000 coins on his wallet and BAM! he can buy Google! it makes no sense at all, what happens if someday computers do not work anymore? are people gonna starve just because they dont have a computer? humanity has went TOO FAR with technology. we need to "reboot". we need to STOP THIS NOW!!!

  2. Excellent strategy…. Re the corrupt aggressive thugs that somehow take a position in the public service…ignoring them and giving them no attention is the best way….do not feed into the fear that violent words project.

  3. The state of NY will do whatever they want… and any exchange operating in that state will be forced to play by their rules.

    Anywho… as it is right now at least 20% of Bitcoin is in the hands of thieves and hackers. So all you people looking to buy into Bitcoin – go get you some and hand that US cash over to the thieves and hackers. Also you will enrich the early adopters too. Enjoy.

  4. If you can't use bitcoin you have no freedom.

    As far as I'm concerned there is no reason to comply with the dictates of the U.S. Federal government. Literally all they have are threats of violence. Such people do not deserve cooperation or support.

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