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ShapeShift recently made headlines after its announcement that it would cease offering services to New York residents as a result of the finalization of the BitLicense digital currency regulatory framework. In an interview with the New York Post, Voorhees described the customer data requirements imposed by the BitLicense as “Orwellian”.
New York users trying to access ShapeShift are instead directed to PleaseProtectConsumers.org, a site that protests the BitLicense framework and currently lists ShapeShift as its sole participant.
Voorhees said that the biggest issue for his company is the risk to users whose information would be collected by regulators – an arrangement that he says exposes them to hacking vulnerabilities that could result in their data being stolen and exploited.
New York users trying to access ShapeShift are instead directed to PleaseProtectConsumers.org, a site that protests the BitLicense framework and currently lists ShapeShift as its sole participant.
Voorhees said that the biggest issue for his company is the risk to users whose information would be collected by regulators – an arrangement that he says exposes them to hacking vulnerabilities that could result in their data being stolen and exploited.
Full story: http://www.coindesk.com/erik-voorhees-bitlicense-data-requirements-reckless/