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China’s ‘Big Three’ Bitcoin Exchanges: BitLicense Would Harm Overseas Markets

Wednesday 20th, August 2014 / 23:24
China’s ‘Big Three’ Bitcoin Exchanges: BitLicense Would Harm Overseas Markets

China’s ‘Big Three’ bitcoin exchanges, OKCoin, BTC China and Huobi, have joined forces to submit feedback to Benjamin Lawsky, superintendent of the New York Department of Financial Services (NYDFS), regarding his agency’s recent BitLicense proposal.

In a newly published open letter, the three companies recommended New York State consider the broad reach of the regulations, saying they should only apply to businesses with meaningful connections to New York.

Signed by company CEOs Bobby Lee of BTC China, Lin (‘Leon’) Li of Huobi and Mingxing (‘Star’) Xu of OKCoin, the letter stated:

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THE BITCOIN MAGAZINE MISSION Bitcoin Magazine is on a mission to be the most accurate and up-to-date source of information, news and commentary about Bitcoin and crypto-currencies. The magazine reaches hundreds of thousands of readers every month by covering current events in business, technology, politics, law and society with a wide variety of viewpoints and opinions from authors and guests in an attempt to provide enlightening commentary that is accessible to new Bitcoin users as well as news and insights the veteran users will find valuable. We desire to work with the Bitcoin community to help support and grow this tremendous technological and financial innovation that empowers each one of us to manage our own economic relations with greater control.

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