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Academics Call for Revisions to New York’s BitLicense Proposal

Monday 18th, August 2014 / 16:44
Academics Call for Revisions to New York’s BitLicense Proposal

The 45-day window for public comments on the New York Department of Financial Services’ (NYDFS) recent BitLicense framework continues to shrink, but the barrage of reactions from industry professionals has yet to lose its momentum.

Most recently, two research fellows from George Mason University’s Mercatus Center co-authored a 14-page response to the BitLicense proposal, highlighting some of its most critical shortcomings.

Jerry Brito and Eli Dourado made a point to laud NYDFS Superintendent Ben Lawsky for his department’s “forward thinking” in outlining rules and regulations specific to virtual currencies, but criticized many of the stipulations found in the BitLicense proposal.

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