Virtual Currency Businesses: Virtual Currencies ...

Video - Benjamin Lawsky ( DFS)discussing the up coming NY. Bit Licences . A well informed and realistic view , I see it as a positive step for the future of Bitcoin.

Video - Benjamin Lawsky ( DFS)discussing the up coming NY. Bit Licences . A well informed and realistic view , I see it as a positive step for the future of Bitcoin. submitted by kerls to Bitcoin [link] [comments]

Charlie Shrem Warns Many Bitcoin Companies Will Have to Shut Down if NY State DFS BitLicense Proposal Becomes Law (INCLUDES VIDEO of Shreminator video robot)

Charlie Shrem Warns Many Bitcoin Companies Will Have to Shut Down if NY State DFS BitLicense Proposal Becomes Law (INCLUDES VIDEO of Shreminator video robot) submitted by halmb to Bitcoin [link] [comments]

Don't sell due to NY DFS and the BitLicense proposal... Hodl. Show Lawsky and the banks that Bitcoin cannot be stopped... with or without regulation.

The price of Bitcoin is a direct reflection of investor confidence in this technology and the future expectation of its success. If the price continues to fall due to NYC over-regulating it, more and more people will view Bitcoin as not being a legitimate currency. We prove the nay-sayers right when the price is volatile. We hurt self-employed miners (the backbone of this economy) with diminishing returns. We hurt small business and innovation by basically "giving up." Think back to why you invested in this technology. Those reasons are still alive. Want to feel more confident and see how history is repeating itself? Watch YouTube speeches from Bruce Fenton, Rickard Falkvinge, or anything by Andreas Antonopoulos. Anyone expecting a quick return in this disruptive technology needs to rethink their strategy. We won't go to the moon if we give up now. More importantly, we won't get the attention of the mainstream media if the price does not get high enough. Money talks, and if the price stays steady in the wake of all this turbulence caused by regulation, the media will wake up and take Bitcoin even more seriously, thus perpetuating its success. There is so much innovation happening right now, and the smartest minds in the world are contributing, even leaving "dream jobs" to risk it all on Bitcoin. That should tell you something too. So, wait it out for at least a year. Better yet, 3-5 years. This won't happen overnight. I bought in when we were in the 800's and have continued ever since. Haven't seen a profit yet, but I am more confident in Bitcoin than anything I have ever invested in... but it's going to take time to fight these well-established deep-pocketed industries and "old timers" in charge. It will happen. Buy more and Hodl. Lawsky and others will see that they can't keep a good thing down. Nothing is more powerful than an idea who's time has come... and nothing gets more headlines than the price - so don't panic sell. If you've been involved long enough, you'll get familiar with these price swings. It's the long term that trend that should be your guide.
submitted by BitBurst to Bitcoin [link] [comments]

Is NY DFS Backing Off Its Attack on Bitcoin Developers? The Devil Will Be In The Details.

Is NY DFS Backing Off Its Attack on Bitcoin Developers? The Devil Will Be In The Details. submitted by UlkeshNaranek to evolutionReddit [link] [comments]

Is NY DFS Backing Off Its Attack on Bitcoin Developers? The Devil Will Be In The Details.

submitted by flovringreen to netpolitics [link] [comments]

NY DFS Tries to Put Bitcoin on Ice

submitted by subscribe-by-reddit to UnionSquareVentures [link] [comments]

Le régulateur de l'État New York autorise le trading de 8 cryptomonnaies

Le Département des Services Financiers de l'État de New York (NYDFS ou DFS) a récemment publié une liste de cryptomonnaies autorisées au trading et à la garde.
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La liste verte du régulateur financier de l'État de New York

Le New York State Department of Financial Services, l’autorité qui délivre la BitLicense aux exchanges, a défini une liste de cryptomonnaies pouvant être proposées à la négociation ou à la garde par les entreprises accréditées dans sa juridiction.
Cette « liste verte » regroupe dans la catégorie des « jetons approuvés pour le listing » le Bitcoin (BTC), l'Ether (ETH), le Bitcoin Cash (BCH), le Litecoin (LTC), le Binance USD (BUSD), le Gemini Dollar (GUSD), le Pax Gold (PAXG) et le Paxos Standard (PAX).
Le XRP et l'Ethereum Classic (ETC) viennent s'ajouter aux cryptomonnaies citées précédemment pour former les 10 « jetons approuvés pour la garde ».
La note publiée par le NYDFS indique ce qui suit :
« Toute entité autorisée par le DFS à mener une activité commerciale de monnaie virtuelle à New York peut utiliser des tokens sur la liste verte aux finalités admises ».
Toutefois, les entreprises concernées sont tenues de communiquer préalablement au régulateur américain, leur intention de faire usage de ces crypto-actifs.
Le NYDFS se réserve le droit de supprimer ou de limiter l'utilisation desdites devises numériques en tout temps. Il assure également que cette liste sera tenue à jour avec la possibilité de l'étendre ou de la raccourcir.
👉 À lire également : Qu'est-ce que la BitLicense et pourquoi est-elle si importante pour les exchanges ?

Le NYDFS réceptif aux nouvelles perspectives

Loin de l'aspect rigide que l'on pourrait associer aux normes, les directives du NYDFS jouent la carte de la flexibilité. En réalité, les exchanges autorisés à opérer dans l'État de New York peuvent offrir leurs services pour des cryptomonnaies qui ne figurent pas sur la liste.
Pour cela, ils doivent présenter une « politique de listing ou d'adoption de jetons » personnalisée selon leur modèle économique et leur exposition aux risques. Si elle obtient l'approbation du régulateur, l'entreprise sera alors en mesure de répertorier ou de prendre en charge des cryptos supplémentaires.
👉 Pour aller plus loin, lisez : Le NYDFS propose de nouvelles directives pour la BitLicense
L'État de New York déploie des efforts considérables pour réguler et donc légitimer l'industrie des cryptomonnaies. Cependant, dans de nombreux pays dans le monde, ce sujet reste tabou.
submitted by Usefmohamed to u/Usefmohamed [link] [comments]

XRP Isn’t A Security, Declares Former CFTC Chairman

XRP Isn’t A Security, Declares Former CFTC Chairman
https://preview.redd.it/8yehv8lzsce51.jpg?width=960&format=pjpg&auto=webp&s=69f0a6eb4973a5a9974e42d15709434719a26a81
When Chris Giancarlo was the chairman of the Commodity Futures Trading Commission he became a rock-star of sorts in certain corners of the cryptocurrency community, helping establish criteria that eventually led to bitcoin and ethereum being declared commodities, more like coffee or sugar than stock in a company. The U.S. Securities and Exchange Commission largely followed suit, eventually also declaring that bitcoin and ether, the cryptocurrency powering the ethereum blockchain weren’t securities.
Now chairman emeritus Giancarlo, who was deemed “Crypto Dad” following an impassioned speech he gave to Congress where he credited bitcoin for finally getting his kids interested in finance, is at it again, having co-written a detailed argument published this morning in the International Financial Law Review for why XRP, the cryptocurrency formally known as “ripples,” was also not a security. The only problem is he’s no longer a regulator. In fact, his employer is on the payroll of Ripple, the largest single owner of XRP, whose co-founders actually created the cryptocurrency.
The bombshell paper, titled, “Cryptocurrencies and U.S. Securities Laws: Beyond Bitcoin and Ether,” co-authored by commodities lawyer Conrad Bahlke of New York law firm Willkie Farr & Gallagher LLP, methodically reviews the criteria of the Howey Test, established by the SEC in 1946 to determine whether something is a security, and point-by-point argues that XRP does not qualify. Rather, the paper argues, like its name would indicate, cryptocurrency is a currency of perhaps more interest to the Federal Reserve and central banks than securities regulators.
What’s at stake here to the cryptocurrency world cannot be overestimated. XRP is now the fourth largest cryptocurrency by market cap, with $5.9 billion worth of the asset in circulation according to cryptocurrency data site Messari. While Ripple was valued at $10 billion according to its most recent round of funding, the company continues to fund itself in part by selling its deep war chest of 55.6 billion XRP, coincidentally valued at the same amount as the company itself.
Not only could an eventual decision by the SEC to classify—or not classify—XRP as a security impact the untold individual owners of the cryptocurrency, but other clients using Ripple services that don’t rely on the cryptocurrency, including American Express, Santander, and SBI Holdings could stand to be impacted positively or negatively depending on the decision. After all if XRP were to be rescinded it would be a huge cost to their software provider. If Giancarlo is right though, Ripple could end up being one of the most valuable startups in fintech.
“Ultimately, under a fair application of the Howey test and the SEC’s presently expanding analysis, XRP should not be regulated as a security, but instead considered a currency or a medium of exchange,” Giancarlo and Bahlke argue in the paper. “The increased adoption of XRP as a medium of exchange and a form of payment in recent years, both by consumers and in the business-to-business setting, further underscores the utility of XRP as a bona fide fiat substitute.”
Giancarlo was nominated to be a commissioner of the CFTC by then-President Barack Obama in 2013. In 2015, he helped lead the thinking behind the CFTC’s decision that bitcoin and other cryptocurrencies were commodities, paving the way for the SEC’s related comments that neither bitcoin nor ethereum are securities. Then, at the height of the 2017 cryptocurrency bubble President Trump nominated him to be Chairman of the CFTC, where he oversaw the creation of a number of bitcoin futures projects, including at CME Group and the short-lived effort at Cboe.
While many blame the creation of bitcoin futures for popping the 2017 price bubble, which almost hit $20,000 before halving today, others have seen the works as a fundamental process of maturity, helping pave the way for more sophisticated crypto-enabled financial offerings. Giancarlo’s last day in office at the CFTC was in 2019, after which he promptly got involved helping envision the future of assets issued on a blockchain. In November he joined as an advisor to American Financial Exchange, using ethereum to create a Libor alternative. The following January he co-founded the Digital Dollar Project leading the push to use blockchain at the Federal Reserve and now it would seem he’s hoping to influence the classification of XRP as he did for bitcoin and ethereum, but from the other side of regulation.
Importantly however, a footnote in the report discloses that not only is Giancarlo and Bahlke’s firm, Willkie Farr & Gallagher LLP counsel to Ripple Labs, but they “relied on certain factual information provided by Ripple in the preparation of this article.” While it’s impossible to parse what information came from the co-authors and what came from Ripple, the resulting legal argument is fascinating, even if it does leave room for doubt.
The Howey test Giancarlo uses to bolster his arguments is a three-pronged definition used by the SEC, none of which he says apply to XRP. The first prong, is that an investment contract should be implied or explicitly stated between the issuer of the asset, in this case XRP and the owner, in which money exchanges hands. “The mere fact that an individual holds XRP does not create any relationship, rights or privileges with respect to Ripple any more than owning Ether would create a contract with the Ethereum Foundation, the organization that oversees the Ethereum architecture,” he writes.
This does however overlook the fact that OpenCoin, credited on Ripple’s own site in 2013 for creating XRP (then tellingly described as “ripples”), was run by many of the same people that founded Ripple. The original creators of XRP then donated the vast majority of the assets to Ripple, which they also ran, creating a sense of distance, tacit though it may be. The actual data around the creation of XRP was also muddled by a glitch in the code that means unlike bitcoin and ethereum the crucial genesis data is no longer attached to the rest of the ledger. The rebranding of “ripples” as XRP further extended the sense of distance between XRP and Ripple, followed by an aggressive campaign to get media to stop describing the cryptocurrency as “Ripple’s XRP.”
With so much distance between the company that actually created XRP and the company that now owns more than half of it, one would be forgiven for wondering, if there was an implied contract between OpenCoin and XRP owners, does the donation from one group of people at one company to a very similar group of people at another company sever that responsibility? In spite of the sense of distance created by Ripple between itself and the cryptocurrency its co-founders created, a number of active lawsuits alleging securities violations have been filed. In all fairness though, Giancarlo appears to recognize this prong may not be Ripple’s strongest defense and concludes the section, hedging: “Even if XRP were to satisfy one or two of the “prongs” of the Howey test, it does not satisfy all three factors such that XRP is an investment contract subject to regulation as a security.”
The second prong of the Howey test stipulates that there can be no “common enterprise” between shareholders or a shareholder and the company. While refuting both relationships, Giancarlo curiously goes onto to write that “given the juxtaposition between XRP’s intended use as a liquidity tool, its more general use to transfer value and its potential as a speculative asset, XRP holders who utilize the coins for different purposes have divergent interests with respect to XRP.”
Ironically, there has always been a widely held belief that owning a cryptocurrency would unify interests around a single goal: to co-create the infrastructure that lets the cryptocurrency exist and ensure it was vibrant and diverse. Meanwhile, XRP, in spite of its aggressive supporters on social media, is one of the least diverse ecosystems, with the vast majority of serious development being done within Ripple. If XRP owners aren’t expecting an increase in value from the work being done by Ripple, they certainly aren’t nearly as involved in helping build that future as are owners of bitcoin and ethereum.
In a related issue, the third prong of the Howey test stipulates that “no reasonable expectation of profit should be derived from the efforts of Ripple,” according to the paper. Supporting this position, Giancarlo writes: “Though Ripple maintains a sizable stake of the XRP supply and certainly has a pecuniary interest in the value of its holdings, it is not enough to suggest that a mutual interest in the value of an asset gives rise to an expectation of profits as contemplated by Howey.” Again, this strains credulity.
According to its own site, Ripple currently has access to 6.4% of all the XRP ever created. But that doesn’t count the 49.2% of the total XRP Ripple owns, but is locked in a series of escrow accounts that become periodically available to Ripple and Ripple alone. Adding those two percentages together leaves a float of only about 44% of XRP that has been distributed for public ownership. For some comparison, Facebook went public the same year XRP was created and has a 99% float, according to FactSet data, meaning almost all of its stock is in the hands of traders.While Ripple does also have more traditional stock, this distribution shows that Ripple might not be as distributed as it claims.
While it’s perhaps no surprise that Giancarlo would come out on the side of his own client, there’s also plenty of other reasons to believe his argument may in fact hold water. In February 2018, the notoriously compliant exchange Coinbase added support for XRP, something it would unlikely do if it were concerned it might accidentally be selling an unlicensed security. Perhaps most tellingly though, Ripple has also been granted a difficult-to-obtain BitLicense from the New York Department of Financial Services, giving it the blessing of a respected regulator. However, while the license was granted after then-superintendent Benjamin Lawsky stepped down from the regulator, it's perhaps no coincidence that a year later he joined Ripple on its board of directors and is now active in the cryptocurrency space. Perhaps a similar fate is in store for Giancarlo.
Editor’s note: This article has been updated to clarify that Ripple Labs is a client of Giancarlo’s law firm.
submitted by wazzocklegless to u/wazzocklegless [link] [comments]

Opportunity for exposure to an influential audience

New York State Department of Financial Services (the people who wrote the "BitLicense") is looking for public comment on how they should regulate exchanges listing new virtual currencies. Their official post can be found here: https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/pr_guidance_regarding_listing_of_vc.
Any reputable exchange that wants to service New York customers will follow their rules (Coinbase, Gemini, etc.). New York DFS is looking to create a two pronged framework for exchanges to follow when listing new coins. Namely, they can offer any of the coins on a predetermined list, or they can self certify / petition DFS to approve a token (I believe exchanges must currently gain approval for each new token). Our opportunity comes with the predetermined list.
The BitLicense is generally thought of as a highly onerous and strict piece of regulation. So much so that Kraken pulled out of New York rather than apply for one of these (see here: https://www.coindesk.com/bitlicense-refugees-kraken-shapeshift-ceos-talk-escape-new-york ). If the ability to list NANO was baked into the BitLicense, it would A) make it easier for major exchanges servicing New York customers to list it and B) make every exchange take a hard look at why NANO was chosen to be included on an ultra conservative list (at the moment they are contemplating: Bitcoin, Bitcoin Cash, Ether, Ether Classic, Litecoin, Ripple, Paxos Standard, and Gemini Dollar).
Usually to get an exchange's attention it requires a core team member from the project to reach out. In this case New York DFS is seeking comments from "all interested parties and the general public." Let's show them the power of our community by sending well thought out reasons as to why NANO should be available to list for all BitLicense holders! Comments should be submitted by January 27, 2020 to [[email protected]](mailto:[email protected]). They request using “Proposed Coin Listing Policy Framework” in the subject line.

TLDR: Let New York DFS know why all BitLicense holders should be able to list NANO by sending an email to [[email protected]](mailto:[email protected]) by 1/27/2020 using “Proposed Coin Listing Policy Framework” in the subject line.
submitted by ovz6 to nanocurrency [link] [comments]

Excerpts from the New York State BITLicense FAQ

Those curious about how regulators may respond to BAT can observe a regulator who has already responded to virtual currencies. New York State's response, in part, is the BitLicense.

FAQ Page

Three excerpts:

Who is required to obtain a BitLicense?
Subject to certain exceptions, anyone engaging in any of the following activities is required to obtain a BitLicense:
Virtual currency transmission
Storing, holding, or maintaining custody or control of virtual currency on behalf of others
Buying and selling virtual currency as a customer business
Performing exchange services as a customer business
Controlling, administering, or issuing a virtual currency.
Is an out-of-state business required to obtain a BitLicense to engage in virtual currency business activity in New York State or with New York State residents?
Yes. A business must obtain a BitLicense if it engages in virtual currency business activity involving New York State or persons that reside, are located, have a place of business, or are conducting business in New York.
If I file Suspicious Activity Reports (SARs) with FinCEN, do I also have to file them with the Department?
No. BitLicensees that are already subject to SAR filing requirements under federal law are not required to file separately with the Department. However, when a Licensee is involved in a Virtual Currency to Virtual Currency transaction or series of Virtual Currency to Virtual Currency transactions in an aggregate amount exceeding $10,000 in one day, by one Person, the Licensee shall notify the Department. We will be providing a portal through which Licensees may submit such reports.

According to Bitcoin Magazine, New York State issued its fourteenth BitLicense on 14 November 2018.
submitted by Unbathed to BATProject [link] [comments]

As Requested, I’m Ben Lawsky, Superintendent of the NY Dept of Financial Services, Here for an AMA on Bitcoin/Virtual Currency

Hi Reddit – I’m Ben Lawsky, Superintendent of Financial Services for the State of New York. Thanks to those of you who requested that I do an AMA on the work our agency – the New York State Department of Financial Services (NYDFS) – is doing on oversight rules for virtual currency firms. We'll get started around 12:30pm EST.
PROOF: https://twitter.com/BenLawsky/status/436544922892906496
We’re still in the process of formulating our views on a number of these issues – given that this is an ongoing regulatory process. So I may not be able to provide final or definitive answers to all of the questions you ask. But I’ll do my best to try and provide a window into some of our thinking at this stage. (I may even ask a few questions of my own during the course of the conversation, if that’s okay.) We’re trying to proceed without any prejudgments and solicit a broad range of views on virtual currency. I’m looking forward to a substantive and informative discussion.
As you’ve probably guessed, I’m new to Reddit. So apologies in advance if I violate any posting etiquette. I was also told not to mention something called “Rampart” – whatever that is
For those of you interested in some background on our agency’s work in this area, NYDFS has been conducting an inquiry on the appropriate regulatory guidelines for virtual currency firms for the last seven months. As part of that inquiry, in January 2014, NYDFS held public hearings in New York City on virtual currency. More than 14,000 people from 117 countries tuned into those hearings online, which was not the usual turnout we get!
http://www.dfs.ny.gov/insurance/hearing/vc_01282014_indx.htm
https://twitter.com/BenLawsky/status/428965430842380288
Last week, we also laid out some of our initial thoughts on the path forward for regulators:
http://www.dfs.ny.gov/about/speeches_testimony/sp140212.htm
http://www.youtube.com/watch?v=zhIZd9b2-Qs
Our expectation is that – during the course of 2014 – the information we’ve gathered in our fact-finding effort will allow us to put forward a proposed regulatory framework for virtual currency firms operating in New York. We want to move expeditiously because the sooner we provide some regulatory certainty, the better for the firms that want to know what the rules of the road are. At the same time, we recognize this is complicated stuff and we don’t want to go too fast, make a mistake, and create unintended consequences. Most of all, we want to get detailed feedback from all sides so we can make smart, modern, forward-looking decisions. Thanks to all of you for being here.
UPDATE 2:22 PM EST Sorry I have to run (also -- AMA's are more tiring than I would have expected!). Thanks to all of you for the thoughtful questions and comments. And to those who tipped me Bitcoin, I doubt I'm allowed to accept but appreciate the thought!
I'll try to come back and answer some additional questions later. I can't tell you how useful this is to our regulatory process. With that in mind, I'd like to pose a few questions to you if you'd like to answer them while I'm away from the computer:
(1) What do you personally find as the most useful and/or important current application for virtual currency? (2) Where do you think virtual currency tech is headed in the medium term and long term. (3) Are there particular problems from a consumer perspective you've had in dealing with virtual currency firms that regulators should consider?
EVENING UPDATE I circled back and answered a few more of your questions, but I have to head out for the evening. Thanks again for your thoughtful questions and feedback.
EVENING UPDATE x2 I also recorded a short sign-off video to thank everyone here for their questions and comments http://www.youtube.com/watch?v=qRXVPq16n_c
submitted by BenLawsky to IAmA [link] [comments]

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submitted by QSMarketingCorp to BetTronLive [link] [comments]

The fight against the Bitlicense continues (where is Bittrex?)

The latest filing has been posted here: http://www.article78againstnydfs.com/docs/Index-2018-998/01-NoticeOfAppeal/2018_998_Theo_Chino_et_al_v_Theo_Chino_et_al__AFFIDAVIT_OR_AFFIRM_17.pdf
The argument we are making:
  1. The New York Department of Financial Services (“DFS”), of its own initiative and without the New York State Legislature’s mandate or instructions, rushed a regulation to quash the growth of Bitcoin and other cryptocurrencies in New York. The “virtual currency” regulation promulgated by DFS at Part 200 of Chapter 1 of Title 23 of the New York Codes, Rules and Regulations (cited as “NYCRR”) (the “Regulation”) took effect on June 24, 2015.
  2. Even in New York, the virtual currency industry has been the subject of continued interest. New York Assembly Bill A08783 was signed into law on December 21, 2018. This law established a “digital currency task force” to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on financial markets in the state. It marks the Legislature’s first foray into investigating the uses of virtual currencies in the state. The enactment of New York Assembly Bill A08783 not only indicates that DFS lacks the broad power to regulate virtual currencies as it claimed since 2015, but also shows that the development of the blockchain technology and cryptocurrency-based businesses is becoming a major topic of public debate within the general population and with the New York Legislature.
  3. Before the enactment of Assembly Bill A08783, the New York Senate held a roundtable discussion on cryptocurrency in February 2018 to gain insight into cryptocurrency, its marketplace, and the impact of the Regulation. Every participant to the roundtable called by the Senate expressed significant opposition to the Regulation. Stan Higgins, New York Lawmakers Open to Revisiting the BitLicense, COINDESK (Feb. 23, 2018), https://www.coindesk.com/bitcoin-crypto-ny-lawmaker-pledges-make-bitlicense-something-works.
Theo Chino
https://www.article78againstNYDFS.com
submitted by theochino to CryptoCurrency [link] [comments]

The Bitlicense Saga continues, new papers filed.

The latest filing has been posted here: http://www.article78againstnydfs.com/docs/Index-2018-998/01-NoticeOfAppeal/2018_998_Theo_Chino_et_al_v_Theo_Chino_et_al__AFFIDAVIT_OR_AFFIRM_17.pdf

The argument we are making:
  1. The New York Department of Financial Services (“DFS”), of its own initiative and without the New York State Legislature’s mandate or instructions, rushed a regulation to quash the growth of Bitcoin and other cryptocurrencies in New York. The “virtual currency” regulation promulgated by DFS at Part 200 of Chapter 1 of Title 23 of the New York Codes, Rules and Regulations (cited as “NYCRR”) (the “Regulation”) took effect on June 24, 2015.
  2. Even in New York, the virtual currency industry has been the subject of continued interest. New York Assembly Bill A08783 was signed into law on December 21, 2018. This law established a “digital currency task force” to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on financial markets in the state. It marks the Legislature’s first foray into investigating the uses of virtual currencies in the state. The enactment of New York Assembly Bill A08783 not only indicates that DFS lacks the broad power to regulate virtual currencies as it claimed since 2015, but also shows that the development of the blockchain technology and cryptocurrency-based businesses is becoming a major topic of public debate within the general population and with the New York Legislature.
  3. Before the enactment of Assembly Bill A08783, the New York Senate held a roundtable discussion on cryptocurrency in February 2018 to gain insight into cryptocurrency, its marketplace, and the impact of the Regulation. Every participant to the roundtable called by the Senate expressed significant opposition to the Regulation. Stan Higgins, New York Lawmakers Open to Revisiting the BitLicense, COINDESK (Feb. 23, 2018), https://www.coindesk.com/bitcoin-crypto-ny-lawmaker-pledges-make-bitlicense-something-works.

Theo Chino
https://www.article78againstNYDFS.com
submitted by theochino to Bitcoin [link] [comments]

J.P. Morgan Early Look at the Market – Fri 10.6.17 **PLEASE DO NOT FORWARD THIS DOCUMENT**

J.P. Morgan Early Look at the Market – Fri 10.6.17
*PLEASE DO NOT FORWARD THIS DOCUMENT*

Morning Levels

Trading Update

Top Headlines for Friday

Identifying risks – what could go wrong?

Macro Update

Calendar of events to watch for the week of Mon Oct 9

Catalysts – big events to watch over the coming months

Opinion/Interesting-but-not-immediately-impactful/intra-day boredom reading

Full catalyst list

  • Mon Oct 9 – China Caixin services PMI for Sept (Sun night/Mon morning)
  • Mon Oct 9 – German industrial production for Aug. 2amET.
  • Mon Oct 9 – earnings after the European close: LVMH.
  • Mon Oct 9 – Columbus Day holiday in the US (equities will be open while fixed income is closed).
  • Tues Oct 10 – German trade balance for Aug. 2amET.
  • Tues Oct 10 – analyst meetings: TECD, Santander, WDAY, WMT
  • Tues Oct 10 – PG shareholder meeting
  • Tues Oct 10 – earnings after the close: CUDA
  • Wed Oct 11 – US JOLTs report for Aug. 10amET.
  • Wed Oct 11 – Fed minutes from the Sept 20 meeting (2pmET).
  • Wed Oct 11 – analyst meetings: KR
  • Wed Oct 11 – earnings before the open: BLK, DAL, FAST, OZRK.
  • Thurs Oct 12 – Eurozone industrial production for Aug. 5amET.
  • Thurs Oct 12 – US PPI for Sept. 8:30amET.
  • Thurs Oct 12 – analyst meetings: BOX, HPQ, LSCC, WDC.
  • Thurs Oct 12 – earnings before the open: C, DPZ, JPM, LNN, Sky PLC, Tata Consultancy.
  • Thurs Oct 12 – earnings after the close: EXFO
  • Fri Oct 13 – China imports/exports for Sept (Thurs night/Fri morning)
  • Fri Oct 13 – US CPI for Sept. 8:30amET.
  • Fri Oct 13 – US retail sales for Sept. 8:30amET.
  • Fri Oct 13 – US Michigan Sentiment for Oct. 10amET.
  • Fri Oct 13 – US business inventories for Aug. 10amET.
  • Fri Oct 13 – analyst meetings: SAFM
  • Fri Oct 13 – earnings before the open: BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, WFC.
  • Mon Oct 16 – China CPI/PPI for Sept (Sun night/Mon morning)
  • Mon Oct 16 – Eurozone trade balance for Aug. 5amET.
  • Mon Oct 16 – earnings before the open: SCHW
  • Mon Oct 16 – earnings after the close: BRO, IEX, NFLX, Rio Tinto
  • Tues Oct 17 – Eurozone Sept auto registrations. 2amET.
  • Tues Oct 17 – German ZEW survey results for Oct. 5amET.
  • Tues Oct 17 – US import prices for Sept. 8:30amET.
  • Tues Oct 17 – US industrial production for Sept. 9:15amET.
  • Tues Oct 17 – US NAHB housing index for Oct. 10amET.
  • Tues Oct 17 – earnings before the open: BMI, CMA, CSX, GS, GWW, HOG, JNJ, MS, Pearson, PLD, Remy Cointreau, UNH
  • Tues Oct 17 – earnings after the close: ADTN, BHP, CP, CREE, IBM, LRCX, NAVI.
  • Wed Oct 18 – US housing starts for Sept. 8:30amET.
  • Wed Oct 18 – US building permits fro Sept. 8:30amET.
  • Wed Oct 18 – US Beige Book. 2pmET.
  • Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, MTB, NTRS, USB
  • Wed Oct 18 – earnings after the close: AA, AXP, BHE, CCI, CCK, EBAY, LLNW, SLG, TCBI
  • Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
  • Thurs Oct 19 – US Leading Index for Sept. 10amET.
  • Thurs Oct 19 – earnings before the open: ADS, BBT, BK, DGX, DHR, GPC, KEY, Nestle, Pernod Ricard, PM, PPG, Publicis, RCI, Roche, SAP, SON, Thales, TRV, TSMC, TXT, Unilever, VZ, WBC.
  • Thurs Oct 19 – earnings after the close: ATHN, ISRG, LHO, MXIM, NCR, PBCT, WDFC, WERN.
  • Fri Oct 20 – US existing home sales for Sept. 10amET.
  • Fri Oct 20 – earnings before the open: Assa Abloy, BHGE, CFG, CLF, Daimler, DST, GE, GNTX, KSU, SLB, STI, SYF, TomTom, Volvo.
  • Mon Oct 23 – China Sept property prices (Sun night/Mon morning).
  • Mon Oct 23 – US Chicago Fed Activity Index for Sept. 8:30amET.
  • Mon Oct 23 – earnings before the open: HAL, HAS, ITW, KMB, STT, VFC
  • Mon Oct 23 – earnings after the close: ARNC, CR, OI
  • Tues Oct 24 – Eurozone flash PMIs for Oct. 4amET.
  • Tues Oct 24 – US flash PMIs for Oct. 9:45amET.
  • Tues Oct 24 – earnings before the open: AMTD, Anglo American, BASF, BIIB, CAT, CLB, CNC, FITB, GLW, GM, INFY, LLY, LMT, MAS, MCD, MMM, Novartis, PCAR, PHM, PNR, R, RF, SAH, SHW, SWK, WAT, WDR.
  • Tues Oct 24 – earnings after the close: AKAM, AMP, CMG, COF, DFS, ESRX, IRBT, T, TSS, TXN.
  • Wed Oct 25 – US durable goods for Sept. 8:30amET.
  • Wed Oct 25 – US FHFA home price index for Aug. 9amET.
  • Wed Oct 25 – US new home sales for Sept. 10amET.
  • Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, BA, BAX, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, Peugeot, TMO, TUP, V, WBA, WEC.
  • Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CLGX, DLR, FFIV, FTI, KIM, LSTR, NOW, ORLY, PKG, PLXS, RJF, TSCO, UNM, VAR, XLNX.
  • Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
  • Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
  • Thurs Oct 26 – US pending home sales for Sept. 10amET.
  • Thurs Oct 26 – earnings before the open: Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, Deutsche Bank, ENTG, EQT, F, HLT, MMC, NEM, Nokia, ODFL, Santander, Schneider Electric, UNP, UPS, WM, XEL.
  • Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, EXPE, FLEX, FTNT, GILD, GOOG, HIG, INTC, LPLA, MSFT, NATI, PFG, SYK, VDSI, VRSN.
  • Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
  • Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
  • Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
  • Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
  • Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
  • Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
  • Mon Oct 30 – analyst meetings: CSX
  • Mon Oct 30 – earnings before the open: HSBC
  • Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
  • Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
  • Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
  • Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
  • Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
  • Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, GGP, K, MA, OSK, PFE, XYL.
  • Tues Oct 31 – earnings after the close: APC, CHRW, CXO, WFT, X
  • Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
  • Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
  • Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
  • Wed Nov 1 – US construction spending report for Sept. 10amET.
  • Wed Nov 1 – US auto sales for Oct.
  • Wed Nov 1 – FOMC meeting decision. 2pmET.
  • Wed Nov 1 – earnings before the open: AGN, APO, CLX, EL, GRMN, HFC, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
  • Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CAVM, CSGS, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
  • Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
  • Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
  • Thurs Nov 2 – earnings after the close: AAPL, AIG, CBS, CRUS, FLR, HLF, RMAX, SBUX, UNIT.
  • Fri Nov 3 – US jobs report for Oct. 8:30amET.
  • Fri Nov 3 – US trade balance for Sept. 8:30amET.
  • Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
  • Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
  • Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
  • Tues Nov 7 – US consumer credit for Sept. 3pmET.
  • Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
  • Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
  • Tues Nov 14 – US PPI for Oct. 8:30amET.
  • Wed Nov 15 – US CPI for Oct. 8:30amET.
  • Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
  • Wed Nov 15 – US retail sales for Oct. 8:30amET.
  • Wed Nov 15 – US business inventories for Sept. 10amET.
  • Thurs Nov 16 – US import prices for Oct. 8:30amET.
  • Thurs Nov 16 – US industrial production for Oct. 9:15amET.
  • Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
  • Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
  • Mon Nov 20 – US Leading Index for Oct. 10amET.
  • Tues Nov 21 – US existing home sales for Oct. 10amET.
  • Wed Nov 22 – US durable goods for Oct. 8:30amET.
  • Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
  • Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
  • Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
J.P. Morgan Market Intelligence is a product of the Institutional Equities Sales and Trading desk of J.P. Morgan Securities LLC and the intellectual property thereof. It is not a product of the Research Department and is intended for distribution to institutional and professional customers only and is not intended for retail customer use. It may not be reproduced, redistributed or transmitted, in whole or in part, without J.P. Morgan’s consent. Any unauthorized use is strictly prohibited.
submitted by SIThereAndThere to wallstreetbets [link] [comments]

J.P. Morgan Early Look at the Market – Mon 10.16.17 - **PLEASE DO NOT FORWARD THIS DOCUMENT**

J.P. Morgan Early Look at the Market – Mon 10.16.17

SEC DISCLAMIER: PLEASE DO NOT FORWARD THIS DOCUMENT

Morning Levels

Trading Update

Top Headlines for Monday

Catalysts – big events to watch over the coming months

Full catalyst list

  • Wed Oct 18 – Fed speakers: Dudley, Kaplan.
  • Wed Oct 18 – US housing starts for Sept. 8:30amET.
  • Wed Oct 18 – US building permits for Sept. 8:30amET.
  • Wed Oct 18 – US Beige Book. 2pmET.
  • Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, ASML, MTB, MTG, NTRS, Reckitt Benckiser, SVU, USB
  • Wed Oct 18 – earnings after the close: AA, AXP, BDN, BHE, BXS, CCI, CCK, EBAY, GHL, HXL, KALU, LLNW, SLG, SLM, STLD, TCBI, URI.
  • Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
  • Thurs Oct 19 – US Leading Index for Sept. 10amET.
  • Thurs Oct 19 – earnings before the open: ADS, BBT, BK, BX, DGX, DHR, DOV, GPC, KEY, Nestle, NUE, Pernod Ricard, Philips Lighting, PM, PPG, Publicis, RCI, Roche, SAP, SNA, SON, Thales, TRV, TSMC, TXT, Unilever, VZ, WBC, WGO.
  • Thurs Oct 19 – earnings after the close: ASB, ATHN, ETFC, ISRG, LHO, MXIM, NCR, PBCT, PFPT, PYPL, WDFC, WERN.
  • Fri Oct 20 – BOJ’s Kuroda speaks. 2:30amET.
  • Fri Oct 20 – US existing home sales for Sept. 10amET.
  • Fri Oct 20 – Yellen speaks to National Economists Club in Washington. 7:15pmET.
  • Fri Oct 20 – earnings before the open: Assa Abloy, BHGE, CFG, CLF, Daimler, DST, GE, GNTX, HON, InterContinental Hotels, KSU, MAN, PG, SLB, STI, SYF, TomTom, Volvo.
  • Mon Oct 23 – China Sept property prices (Sun night/Mon morning).
  • Mon Oct 23 – US Chicago Fed Activity Index for Sept. 8:30amET.
  • Mon Oct 23 – earnings before the open: HAL, HAS, ITW, KMB, LII, Philips, STT, STX, VFC
  • Mon Oct 23 – earnings after the close: ARNC, CR, JBT, OI, ZION.
  • Tues Oct 24 – Eurozone flash PMIs for Oct. 4amET.
  • Tues Oct 24 – ECB bank lending survey. 4amET.
  • Tues Oct 24 – US flash PMIs for Oct. 9:45amET.
  • Tues Oct 24 – earnings before the open: AMTD, Anglo American, BASF, BIIB, CAT, CLB, CNC, CVLT, ETR, Fiat Chrysler, FITB, GLW, GM, INFY, IPG, LLY, LMT, MAS, MCD, MMM, Novartis, PCAR, PHM, PNR, R, RF, SAH, SHW, SWK, UTX, WAT, WDR.
  • Tues Oct 24 – earnings after the close: AKAM, AMP, AXS, Canadian National Railway, CMG, COF, CYBE, DFS, ESRX, HLI, IRBT, IRM, MANH, NUVA, RGC, T, TSS, TXN.
  • Wed Oct 25 – US durable goods for Sept. 8:30amET.
  • Wed Oct 25 – US FHFA home price index for Aug. 9amET.
  • Wed Oct 25 – US new home sales for Sept. 10amET.
  • Wed Oct 25 – Bank of Canada rate decision. 10amET.
  • Wed Oct 25 – Brazilian rate decision (after the close).
  • Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, APH, BA, BAX, BTU, Capgemini, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, OC, Peugeot, SIRI, SLAB, TMO, TUP, V, WBA, WEC, WYN.
  • Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CA, CLGX, DLR, FFIV, FNF, FTI, KIM, LSTR, MC, MLNX, NOW, NXPI, ORLY, PKG, PLXS, RJF, SSNC, TSCO, TYL, UNM, VAR, WCN, XLNX.
  • Thurs Oct 26 – Riksbank decision. 3:30amET.
  • Thurs Oct 26 – ECB rate decision. 7:45amET press release, 8:30amET press conf.
  • Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
  • Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
  • Thurs Oct 26 – US pending home sales for Sept. 10amET.
  • Thurs Oct 26 – earnings before the open: ABB, ABX, Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BEN, BMS, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, COP, Deutsche Bank, ENTG, EQT, EXLS, F, GNC, HLT, HSY, LUV, MMC, MKC, NEM, Nokia, OAK, ODFL, PX, Santander, Schneider Electric, SPGI, STM, TWTR, UNP, UPS, VC, VNTV, WM, XEL, XRX.
  • Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, CENX, CLS, EXPE, FLEX, FTNT, FTV, GILD, GOOG, HIG, INTC, LPLA, MAT, MSFT, NATI, PFG, PRO, SGEN, SIVB, SYK, VDSI, VRSN.
  • Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
  • Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
  • Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
  • Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
  • Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
  • Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
  • Mon Oct 30 – analyst meetings: CSX
  • Mon Oct 30 – earnings before the open: HSBC
  • Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
  • Tues Oct 31 – BOJ rate decision (Mon night/Tues morning).
  • Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
  • Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
  • Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
  • Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
  • Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, FIS, GGP, K, MA, OSK, PFE, XYL.
  • Tues Oct 31 – earnings after the close: APC, CHRW, CXO, PLT, WFT, X
  • Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
  • Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
  • Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
  • Wed Nov 1 – US construction spending report for Sept. 10amET.
  • Wed Nov 1 – US auto sales for Oct.
  • Wed Nov 1 – FOMC meeting decision. 2pmET.
  • Wed Nov 1 – earnings before the open: AGN, APO, CEVA, CLX, EL, GRMN, HFC, LFUS, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
  • Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CACI, CAVM, CSGS, EGOV, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
  • Thurs Nov 2 – BOE rate decision. 8amET.
  • Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
  • Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, LDOS, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
  • Thurs Nov 2 – earnings after the close: AAPL, AIG, ATVI, CBS, CRUS, FLR, HLF, JCOM, RMAX, SBUX, UNIT.
  • Fri Nov 3 – US jobs report for Oct. 8:30amET.
  • Fri Nov 3 – US trade balance for Sept. 8:30amET.
  • Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
  • Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
  • Mon Nov 6 – Fed’s Dudley speaks at The Economist Club of New York.
  • Tues Nov 7 – RBA rate decision. Mon night/Tues morning.
  • Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
  • Tues Nov 7 – US consumer credit for Sept. 3pmET.
  • Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
  • Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
  • Tues Nov 14 – US PPI for Oct. 8:30amET.
  • Wed Nov 15 – US CPI for Oct. 8:30amET.
  • Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
  • Wed Nov 15 – US retail sales for Oct. 8:30amET.
  • Wed Nov 15 – US business inventories for Sept. 10amET.
  • Thurs Nov 16 – US import prices for Oct. 8:30amET.
  • Thurs Nov 16 – US industrial production for Oct. 9:15amET.
  • Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
  • Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
  • Mon Nov 20 – US Leading Index for Oct. 10amET.
  • Tues Nov 21 – US existing home sales for Oct. 10amET.
  • Wed Nov 22 – US durable goods for Oct. 8:30amET.
  • Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
  • Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
  • Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
J.P. Morgan Market Intelligence is a product of the Institutional Equities Sales and Trading desk of J.P. Morgan Securities LLC and the intellectual property thereof. It is not a product of the Research Department and is intended for distribution to institutional and professional customers only and is not intended for retail customer use. It may not be reproduced, redistributed or transmitted, in whole or in part, without J.P. Morgan’s consent. Any unauthorized use is strictly prohibited.
submitted by SIThereAndThere to wallstreetbets [link] [comments]

By far, THIS is the most damning part of the "BitLicense."

Unless you're a Winklevii, most in the community seem to agree that the BitLicense regulation proposals are archaic, and that it will hinder startup growth, etc.
The most important point that people seem to overlook is this piece of regulation, section 200.8(b):
Each Licensee shall be permitted to invest its retained earnings and profits in only the following high-quality, investment-grade permissible investments with maturities of up to one year and denominated in United States dollars:
(1) certificates of deposit issued by financial institutions that are regulated by a United States federal or state regulatory agency;
(2) money market funds;
(3) state or municipal bonds;
(4) United States government securities;
(5) United States government agency securities
BitLicense businesses cannot invest or hold their ANY of their profit in Bitcoin, ONLY in US Dollars.
You will be told this regulation is to protect the business (and therefore, its consumers) from Bitcoin exchange rate fluctations, but if Bitcoin businesses are forbidden from holding their profits Bitcoin, then what are those businesses forced to do?
Sell their Bitcoin - driving down prices, reducing demand.
This part of the regulation has one purpose, and that is to prevent the rise of Bitcoin as a reserve currency. It simply makes no sense that a BITCOIN BUSINESS cannot hold ANY of its earnings in Bitcoin.
This was written by the banks, for the banks. Don't support it, and don't be blinded by the "This is actually good news!" mentality. It's not, unless you're looking forward to JPMorganCoin.
EDIT: Even more telling, the specific piece of regulation that I refer to above is NOT mentioned on the summary page of the regulations provided by New York State: http://www.dfs.ny.gov/about/press2014/pr1407171.html
submitted by AmericanBitcoin to Bitcoin [link] [comments]

03-22 06:22 - 'Regardless where you are in the world, if you know someone that does Bitcoin in New York City tell them to show up at the courthouse on March 28, 2019 at 1 pm.' (self.Bitcoin) by /u/theochino removed from /r/Bitcoin within 77-87min

'''
Dear Bitcoin enthusiasts,
Please share with anyone that you know that does Bitcoin. This is the mother of all bitcoin lawsuits.
The twitter account to follow: [[link]6 . You can join the telegram group AbolishTheBitlicense for live updates that that.
If that is the case and you know someone in New York City, let them know to show up at the courthouse on March 28, 2019 at 1pm. (I posted the wrong date.)
I was in Queens the other day and a business was advertising their online Blockchain course. I went in while talking to the organizers, I realized that their news came from Bangladesh and they had no idea what is happening across the river. They were versed in Bangladeshi regulations but not in the New York one. I see the same thing with communities from Africa, Latin America, Central Asia.
[ Queens, NY store front teaching Blockchain to the Bangladeshi community in NYC. ]2
I am sure that no matter where you are, you talk with friend in the bitcoin space in New York City that don't participate in the Manhattan bitcoin scene.

We need the judges to see that the room is full of people concerned about the legal future of cryptos in general. The message is to tell them to pause and thing about the case.
The court room cannot be empty like what happened in Florida in the Espinoza case. We need the court room full of people!
[ Empty court room in Florida in Florida (vs) Espinoza case ]3
This is the mother of all mother case right now. The question at hand if to know whether I have the right to sue to the State of New York over the Bitlicense regulations.
Please share with anyone that you know that does Bitcoin.

If anyone think that it doesn't affect them, think again: [[link]7

Regards,
Theo Chino
[[link]8
'''
Regardless where you are in the world, if you know someone that does Bitcoin in New York City tell them to show up at the courthouse on March 28, 2019 at 1 pm.
Go1dfish undelete link
unreddit undelete link
Author: theochino
1: twitter.*o*/A7**ns*N*DFS 2: i*r*dd.it*e*ybzf*0*ln21*png 3: i.**dd.i*/yv*w*fxxnl*2*.png 4: w*****s**ce.***/op*/punit**-state*-and-inte*nati*nal-law-enf*rcem*nt-*ismantl*-onli**-**gani*e*-crime-ri*g 5: *rtic*e78aga*nstny*f*.*om/ 6: twit*er.*om/A7*g**tNY*FS]^*1 7: *ww.j**tic***ov/o*a/punited-*tates**n****ter*at**na**law-enforcemen*-d*sma*tle-onl*ne*org*n*zed-crime**ing]^^4 8: *r*i*l*78Again**NYD*S.com]^^5
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

How /r/btc and /r/bitcoin intrigue me. I am fighting NYDFS and there seem to be ZERO interest in commenting the biggest showdown on bitcoin.

It's interesting that a story about a lawsuit I am doing against the NYDFS and the article get constantly downvoted. (Not that I really care because the real place that only matters is the court house.)
http://thedashtimes.com/2017/03/04/bitlicense-court-case-coming-end-soon
When the bitlicense came about, 4000 people wrote letters and many organizations. http://www.dfs.ny.gov/legal/vcrf_submit_comments.htm
When I talked to Nick Spanos about it, he was surprised. It's like there is an embargo on that particular story: https://twitter.com/nickspanos/status/838552498830991362
The piece written by Frisco d'Anconia is very well written and explain pretty clearly the situation to last week.
The only gotcha is that judge advanced the trial date by 15 days, and Jim Harper submitted a very good Affidavit of Support. http://www.article78againstnydfs.com/docs/Index-101880-15/07-OurNewMotionForLimitedDiscovery/TabD-HarperAffidavit.pdf
I don't think believe MillyBitcoin is trolling me that bad that he can make article disappear (he likes to call me crazy on every article published.)
Anyone who reads Cino's court filings can immediatly determine the guy is mentally ill and anyone who writes an article as if the guy is legitimate is an idiot or a scammer. Just another day in Bitcoinland.
Anyway, I am a pretty boring person as shown in my Bitcoin Uncensored. I am a real snozefest. http://www.article78againstnydfs.com/press.html
If I wasn't the one suing the regulator, I would love to hear about and comment on it, etc ... https://pbs.twimg.com/media/C6NAcjJXQAAYCPl.jpg:large
The technical curiosity of how /btc and /bitcoin works intrigue me.
For those in New York, the information about the trial date is here: http://www.article78againstNYDFS.com I have setup a meetup here: https://www.meetup.com/Article-78-Against-NYDFS/events/238080585
You are free to show up and watch the trial; it's open to anyone. http://www.dmlp.org/legal-guide/access-new-york-court-proceedings
submitted by theochino to btc [link] [comments]

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submitted by smitty4popcon to BetTronLive [link] [comments]

Fighting the Manhattan DA about Full Disk Encryption.

Dear Readers,
Bitcoin and Encryption are intertwined and I suspect that it is the Manhattan DA that pushed the DFS to pursue the Bit-License.
I am touring the Manhattan Community Board presenting the program. https://www.youtube.com/channel/UCf75zFbSbSRLbJ0LmdyiVUw
The only thing elected officials understand are the Number of Votes a community hold on a given topic.
The Manhattan DA has made it clear on National and International TV that he won't back down on the subject. I clearly disagree with the Manhattan DA so I am starting a campaign to find a replacement.
At this time I am looking for people who share my sentiment on Full Disk Encryption. These people need to applauds at the end of my speech to show elected officials that I am not alone.
If you know anyone in New York City, please give them the Meetup Address. At this time I only require 5 people per meeting to applaud.
http://www.meetup.com/Replace-Manhattan-DA-in-2017
Thanks. Theo Chino http://www.replacemanhattanda.org Suing the Government over the BitLicense: Theo Chino (vs) Department of Financial Services (NY State Index 101880-15)
submitted by theochino to Bitcoin [link] [comments]

New York's Cybersecurity rules found their bite BAKKT Officially Launching - Cleared by NYDFS, CFTC for ... Bitcoinomie - YouTube Bitcoin Charts and DFS Hockey 2019.11.26 NYSDFS Cybersecurity Compliance

Virtual Currencies. There are multiple paths virtual currency businesses can take to adopt or list virtual currencies: approval of a specific application to DFS for a material change of business; self-certification of a coin listing policy approved by DFS; use of virtual currencies already on the greenlist. Bitcoin News Gemini Bitcoin Exchange Receives NYSDFS Approval. Gemini, the “truly American” bitcoin exchange has finally received clearance from the New York State Department of Financial ... Überlegungen zum NYDFS Bitcoin Vorschlag und das Recht auf Datenschutz von Erick Voorhees; Reddit Kommentare zu den vorgeschlagenen Vorschriften, von Ben Lawsky (mehr lustig als informativ) Es sieht so aus, als würden alle ihre Meinung darüber haben, welche die gröbsten Teile des Vorschlags sind, aber hier sind meine Top 5 zusammen mit einem Kommentar, warum. (Es wird eine große ... Das NYDFS plant eine Art "BitLicense Lite" für Bitcoin Startups und kleiner Unternehmen was das Wachstum der Bitcoin Unternehmen weiter fördern soll. NYDFS: Why We Rejected Bittrex’s Application for a BitLicense UPDATE (April 18 20:30 UTC): This article has been updated to include a response from Bittrex at the bottom.

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New York's Cybersecurity rules found their bite

SUBSCRIBE if you enjoy these type of videos! Thanks for watching! MY WEBSITE: https://www.TheCryptoviser.com TWITTER: https://twitter.com/TheCryptoviser ----... What are the NY DFS Cybersecurity requirements? What are the penalties under NY DFS? What are the 23 NYCRR 500 Cybersecurity rules? That and more! New York State is enforcing its 2017 ... New York State Department of Financial Services (NYDFS) Virtual Currency Hearings Benjamin M. Lawsky, Superintendent of Financial Services Tuesday, January 2... Dec.05 -- New York State Department of Financial Services Superintendent Maria Vullo discusses bitcoin, financial services regulation and the state's relationship with the federal government. She ... The State Of Crypto - Episode 316 - Who Controls Bitcoin?, NYDFS Approves XRP Custody, Binance Debit Card Fails Satoshi’s Vision - 8/10/2020 If you would lik...

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