Inside New York’s BitLicense Bottleneck: An ‘Absolute Failure?’

“Let's call the BitLicense what it is--an absolute failure.”

That’s how Erik Voorhees, the CEO of cryptocurrency exchange ShapeShift, described the reigning regulatory regime for New York’s Bitcoin industry last week. It was the second day of the massive Consensus conference in Manhattan, and Voorhees was on stage with fellow CEO Jesse Powell of Kraken, another cryptocurrency exchange. The pair were explaining why they had pulled their companies out of the New York market rather than...

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