Regulation is only good, if it protects the consumer. In New York you will find more people shifting operations to countries where they feel more welcomed. This is already happening : https://www.cryptocoinsnews.com/eobot-bitcoin-mining-company-pulls-new-york-state-bitlicense/
This is also why ShapeShift announced that it is suspending service to residents of New York State on account of the BitLicense regulation. So they are not just moving operations away from New York State, they are also denying services to New York State citizens due to this. Who are the people suffering? Not just the companies, but the average users of Bitcoin. ^Very Very Sad^
The only person laughing all the way to the bank is Lawsky and his new 'advisory' venture on BitLicense.
Topic: [2015-06-22]DMT - BitLicense Forces Mining Pool BTCGuild To Shut Down (Read 426 times)
June 22, 2015, 07:43:21 AM
http://digitalmoneytimes.com/crypto-news/bitlicense-forces-mining-pool-btcguild-to-shut-down/
Bitcoin regulation has always been a topic of heavy debate among digital currency enthusiasts. On the one hand, there is a majority of Bitcoiners who would rather not see things regulated, as they feel digital currency development and usage will be restricted. On the other hand, there is quite a large following of people who see Bitcoin regulation as a way to “legitimize” digital currency. That being said, the BitLicense Bitcoin regulation is not working out well so far.
Bitcoin regulation has always been a topic of heavy debate among digital currency enthusiasts. On the one hand, there is a majority of Bitcoiners who would rather not see things regulated, as they feel digital currency development and usage will be restricted. On the other hand, there is quite a large following of people who see Bitcoin regulation as a way to “legitimize” digital currency. That being said, the BitLicense Bitcoin regulation is not working out well so far.
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