Coindesk Logo

New York State Releases Revised BitLicense Proposal

New York State Releases Revised BitLicense Proposal

New York State Releases Revised BitLicense Proposal

The New York State Department of Financial Services has released a revised version of its BitLicense proposal.

The New York State Department of Financial Services has released a revised version of its BitLicense proposal.

The New York State Department of Financial Services has released a revised version of its BitLicense proposal.

AccessTimeIconFeb 4, 2015, 8:05 PM
Updated Aug 18, 2021, 3:37 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The New York State Department of Financial Services (NYDFS) has released a revised version of its BitLicense proposal.

First revealed in July, the new framework comes after a lengthy, 90-day comment period for the proposed regulation, which saw notable names from both within and outside of the bitcoin industry weigh in on the proposal.

The finalized bill includes previously announced changes, like exclusions for software providers, gift card companies and those who seek to use blockchain tokens for non-financial purposes.

A spokesperson for the NYDFS indicated that an official version of the amended proposal will be published next week in the State Register.

This filing will set off another 30-day comment period in which the public can weigh in on the proposed changes before the BitLicense is finalized.

The NYDFS had earlier indicated that the framework would be available in January.

CoinDesk is monitoring this developing story.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.