More than 70 digital currency industry businesses, executives and advocates are backing a petition that calls for the easing or eradication of allegedly onerous components of New York’s BitLicense proposal.
Submitted as part of a recently closed public comment period, the measure has so far garnered support from companies such as Coinbase, Blockstream, BitPay, Circle and Ripple Labs, as well as notable developers and venture capitalists.
Overall, the petition seeks to convey the argument that it is “unreasonable” for the New York State Department of Financial Services (NYDFS) to apply its provisions equally across the industry, arguing that creators of open-source protocols, micropayments providers, security intermediaries and smaller entrepreneurs should be excluded from certain coverage.
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