Does the BitLicense still exist?

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castbound castboundoski

Platinum Member

Oct 17, 2017

Does the BitLicense - Bitcoin Regulations released some years ago still exist? The license that many people were afraid of and many services got closed cuz of it ?

Last edited: Oct 17, 2017

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Tulip

Guest

Oct 17, 2017

you have answered your question almost, if some features are missing then there is high chances to be scammed though i'm not sure but i guess the site may exist but if it scam user surly leave the site.

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castbound castboundoski

Platinum Member

Oct 22, 2017

Tulip said:
you have answered your question almost, if some features are missing then there is high chances to be scammed though i'm not sure but i guess the site may exist but if it scam user surly leave the site.

The BitLicense provoked many bitcoin investors when it got released. The idea behind it was to make sure people don't get scammed and to have some regulations about buying and selling products which are not allowed through bitcoin . Some people say the license was only created to be profitable for the creator itself. Who knows which theory is true.

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Bigron

Guest

Apr 26, 2023

The BitLicense is still in effect in New York State, yes. The New York State Department of Financial Services proposed it as a legal framework for digital currency enterprises operating there in 2015. Enterprises that operate through virtual currency transactions are subject to a number of rules and standards imposed by the BitLicense, including being required to establish sufficient anti-money laundering and cybersecurity safeguards.