Mastercard Secures NYDFS BitLicense To Advance Stablecoin, Tokenized-Deposit ...
Payments giant Mastercard has secured New York’s BitLicense, one of the toughest regulatory approvals, to advance its digital assets strategy and expand its stablecoin and tokenized deposits infrastructure. Related Reading: UK Targets HTX, Russia-Linked Crypto Firms Amid Crackdown On Sanction Evasion Mastercard Wins Major Regulatory Approval On Wednesday, Mastercard announced that its subsidiary Mastercard Transaction […]
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Barry Silbert, CEO of SecondMarket, has posted an official letter requesting that the NYDFS extend the deadline for filing public comment by 45 days, on their "BitLicense" proposal. He urges affected companies and individuals to sign. Currently, the list of signatures includes many A-Listers such as Elizabeth Ploshay, a board member of the Bitcoin Foundation, Erik Voorhees, several prestigious universities such as Harvard and Stanford, and of course Barry Silbert himself. The more signatures the letter receives, the greater the chances we have to help shape or oppose the NYDFS BitLicense....
The BitLicense is continually evolving; today, the NYDFS has clarified that Bitcoin software developers do not need to apply for a BitLicense. Additionally, the official comment period on the proposed BitLicense regulations by the NYDFS has again been extended to accommodate the anticipated revised proposal. The NYDFS has promised to have a revised proposal for the public by the end of October. Lawsky spoke today at the Benjamin N. Cardoza School of Law in New York City with a panel of digital currency experts. By admitting the areas that the NYDFS does not wish to over-extend into,....
The Bitcoin Foundation has again commented on the 'BitLicense' proposal put forth by the New York State Department of Financial Services (NYDFS) to regulate bitcoin businesses in the state. In a statement released today, the foundation highlights the need for public access to the "extensive research and analysis" cited by the NYDFS when the BitLicense was first proposed. This data, it says, is essential to examine the rationale used by the NYDFS in substantiating its regulatory proposal. The foundation further points out that the NYDFS has failed to produce these materials. Despite an....
As revealed for the first time earlier today, The New York Department of Financial Services plans to give "transitional BitLicenses" to certain smaller digital currency companies seeking to do business in New York. NYDFS Superintendent Ben Lawsky gave some updates to the NYDFS's proposed BitLicense regulatory framework during his keynote speech at Money20/20. Lawsky repeated that Bitcoin software developers and individual users would not have to apply for a BitLicense. Lawsky also emphasized that individuals miners and even large mining pools would not need to apply for a BitLicense, this....
Earlier today, NYDFS Ben Lawsky posted to Twitter stating that all the BitLicense comments received by the department have been published. All in all, the NYDFS received 3,746 comments from around the world. The vast majority of commentators are individuals are the average length of comments vary greatly. However, some notable large companies also submitted comments to the NYDFS to seek clarification or provide suggestions. Walmart, Amazon, and Western Union are three of the largest companies that have publicly commented on the BitLicense. Despite releasing the comments, Lawsky still has....