The Ledger: Is New York’s BitLicense 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 during Manhattan’s Consensus conference. Voorhees had pulled his company out of New York when the state established the BitLicense in June 2015. In the nearly three years since, only four companies had managed to secure a license from the New York State Department of...

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