Connect with us

Bitcoin

Bitcoin [BTC] brothers: We think regulation is a big win for New York State

Priya

Published

on

Bitcoin [BTC] brothers: We think regulation is a big win for New York State
Source: Unsplash

Bitcoin [BTC] and other cryptocurrencies continue to be a peculiar case to regulators around the world. With some of the places noted to have very friendly crypto-environment and others noted to be hostile, but rarely any in between. Importantly, the coin has taken the center-stage in the US, as decisions on regulating the space, wherein it protects the investors without hindering innovation, is still one of the main concerns of the regulatory bodies around the country.

So far, Wyoming state is considered to have a cryptocurrency and blockchain technology-friendly environment and New York is considered to be the worst places for the industry. Additionally, several influencers in the space such as Jesse Powell, CEO of Kraken, and Erik Voorhees, CEO of Shapeshift, have openly spoken about the hostile cryptocurrency environment of New York.

However, the Winklevoss brothers have a different perspective on the cryptocurrency regulation in New York. Tyler Winklevoss stated that with the regulation, there is the reason they “have a business”, taking into consideration the issuance of the BitLicense. BitLicense is a business license provided to companies operating in the cryptocurrency space by the New York State Department of Financial Services [NYSDFS]. He said:



“[…] without a license, you can’t get a banking relationship and you can’t accept deposits of fiat. So, you can’t start your company. So, we think that regulation has been a big boom to New York. It’s brought in a lot of companies […] We would have gone to Alaska, if that was possible but it wasn’t. So we chose New York. So we think regulation has been a big win for New York State.

This was followed by Cameron Winklevoss speaking about whether Gemini is looking for more guidance and regulation from other regulatory bodies including the U.S Securities and Exchange Commission. He said:

“Well, I think the idea is thoughtful regulation. So we’ve been working on the virtual commodity association, which is an SRO to help self-police virtual commodity marketplace. And bring best practices from the equity’s world and the derivative’s world into the crypto world.”

He further stated that Gemini is not trying to “reinvent” the wheel, but is just taking these safeguard and protection measures and bringing it into the cryptocurrency space.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more

Priya

Published

on

By

Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more
Source: Unsplash


Daily Crypto News – April 18

Craig Wright withdraws email evidence: The self-proclaimed Satoshi Nakamoto withdrew the email evidence submitted to the court with regard to Kleiman case. This news comes days after some members in the community suggested that the email evidence was “fake”. Notably, the evidence was withdrawn as Wright could not verify the timeframe of when the emails were exchanged.

To know more, click here!

US 2020 Presidential Candidate urges the need for cryptocurrency regulation: Andrew Yang, the United States 2020 Democratic Presidential candidate, released a new policy, which emphasized on the need for regulating the digital asset place, and also listed the actions he would do for the cryptocurrency market as the President. On his official Twitter handle, Yang stated that, “Investment in cryptocurrencies and digital assets has far outpaced our regulatory frameworks”.

To read more, click here!

Bitcoin SV network witnesses yet another blockchain reorganization: It was reported that Bitcoin SV’s network witnessed another blockchain reorganization on a 128 MB block, with over six blocks orphaned [#578640–578645]. Moreover, Bitcoin SV’s network was unresponsive for over an hour.

To read more, click here!



Craig Wright takes on evidence and law: In a recent blog post, Wright speaks about proving to be the creator of Bitcoin, Satoshi Nakamoto. He stated that, “the important thing to understand is: law is law. Code (programs and algorithms) in any form is merely evidence… You see, ownership of the key is not proof of anything other than the possession of a key”

To read more, click here!





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending