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Sponsored by Gem In Q1 State of Bitcoin Q1 2015

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Sponsored by Gem
In Q1 There Were Positive Developments With the NY
BitLicense Proposal, but …
81State of Bitcoin Q1 2015
• Businesses that “store”, “hold”, “issue”,
“administer”, “exchange” or “control” digital
currency on behalf of their customers require
a license to operate
• An exemption added for companies engaging
in mere software “development and
dissemination”
• Eliminates the prohibition on digital currency
investments, so long as they are held in an
acceptable ratio
• Demands that the licensee must submit non-
customer identities “to the extent practicable”
• NY regulators accepted new comments,
further revisions are a possibility
Sources: CoinDesk. Manhattan photo courtesy of Symmetry50

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