From the inception of Regulations, a special license to conduct activities in the state of new York, representatives of the bitcoin community are fighting for its abolition. But to do so in practice is far from easy. The good news, however, is that now on the side of the cryptocurrency industry stood one of the candidates for Governor of new York.
Initiated by the Department of financial services of the state (NYDFS). Regulations valid in the summer of 2015, and although its action is limited to its residents, it is no exaggeration to say that new York is the de facto financial capital of the world. This status also means that regional regulators — not only in USA but also in many other countries, is often seen in new York a role model.
The provisions of the Regulations thus affect almost any possible cryptocurrency transactions, including their transfer, storage, exchange and trade, introducing such activities in an extremely rigid framework of the law.
To comply with all the requirements of the Regulations is especially difficult for small companies and start-UPS, it is not surprising that a large number of them simply refused to work in new York. The number of companies that have not started a business because of barriers created, it will remain forever unknown. Those who received the Regulations, there are no more than a dozen, all mostly large companies like Coinbase, Circle and Ripple.
Now, however, the opponents Regulations there is a hope that their struggle for the abolition of legislation will pass to qualitatively new level. At least, that’s what promises a Startup Cities project and its founder, Peter Ryan, which has United around itself a group of “entrepreneurs, economists and urbanists”. With the aim to have a positive impact on the development of the startup ecosystem, the project conducts various activities, events and public discussions designed to raise awareness among companies and politicians in relation to issues that require more attention.
Regulations also got the Startup Cities, and on 10 July, the organization plans to hold a special event, one of the participants of which will be the founder of the Neo-Sage Group, Inc., and candidate for Governor of the state of Larry Sharpe.
49-year-old entrepreneur, who in 2016, also ran for the position of Vice President of the United States from the libertarian party, has already declared that he is a supporter of bitcoin.
“I don’t want us to vote for squeezing bitcoin [from new York], I wish we were open to it,” said Larry sharp.
Sponsors of the upcoming July event, which will take place in the centre of Galvanize in SOHO, serves a number of well-known companies and organizations, including the Bitcoin Center NYC, NYC Crypto and Shapeshift,
“Larry Sharpe is fighting for the governorship and using his experience in the military, a businessman and educator, wants to bring in a state of change and innovation. In regard to support of the cryptocurrency, this is the most progressive politician”, — said in Startup Cities.
We will remind, in April of last year, one of the oldest members of the Bitcoin Foundation Theo Chino, decided in court to challenge the order of licensing of crypto-currency companies in new York, while the organization called the introduction of the Regulations “ill-conceived” step “almost completely destroyed the bitcoin innovation.”
It is noteworthy that the direct Regulations author Benjamin Loski since November 2017 member of the Board of Directors of Ripple, where he is engaged in promotion and payment platform token XRP.