BitLicense coming by the end of May

Regulation | April 24, 2015 By:

New York Department of Financial Services superintendent Benjamin M. Lawsky anticipates that the BitLicense bill will be finalized by the end of May.

“We’re going to see how this all shakes out. I think there’s room for federalism, but at the same time if you have a whole series of different rules and it becomes a crazy quilt patchwork that can get hard to comply with,” said Benjamin Lawsky.

Some commentators believe this suggests that the regulations may be a simplified version of the earlier draft bills.

Proposals for the BitLicense, which will regulate bitcoin business activity in the state of New York, were first released last year and have since been revised over the course of several comment periods.