Topic: Can someone explain (Read 1013 times)
I think they have not yet imposed any law related to bitcoin. I don't think the bitcoin is still discussed in their legislation. or in their court of law. so I don't think that they have any yet any law about bitcoin.
A BitLicense is the common term used for a business license of virtual currency activities, issued by the New York State Department of Financial Services (NYSDFS) under regulations designed for companies.[1][2][3] The regulations are limited to activities involving New York or a New York resident. Those that reside, are located, have a place of business, or are conducting business in the State of New York count as New York Residents under these regulations.[4]
The regulations define virtual currency business activity as any one of the following types of activities:
receiving Virtual Currency for Transmission or Transmitting Virtual Currency, except where the transaction is undertaken for non-financial purposes and does not involve the transfer of more than a nominal amount of Virtual Currency,
storing, holding, or maintaining custody or control of Virtual Currency on behalf of others,
buying and selling Virtual Currency as a customer business,
performing Exchange Services as a customer business, or
controlling, administering, or issuing a Virtual Currency.
But, the 2 following activities are excluded from the definition of virtual currency business activity:
development and dissemination of software in and of itself,
merchants and consumers that utilize Virtual Currency solely for the purchase or sale of goods or services or for investment purposes.[5]
https://en.wikipedia.org/wiki/BitLicense
The regulations define virtual currency business activity as any one of the following types of activities:
receiving Virtual Currency for Transmission or Transmitting Virtual Currency, except where the transaction is undertaken for non-financial purposes and does not involve the transfer of more than a nominal amount of Virtual Currency,
storing, holding, or maintaining custody or control of Virtual Currency on behalf of others,
buying and selling Virtual Currency as a customer business,
performing Exchange Services as a customer business, or
controlling, administering, or issuing a Virtual Currency.
But, the 2 following activities are excluded from the definition of virtual currency business activity:
development and dissemination of software in and of itself,
merchants and consumers that utilize Virtual Currency solely for the purchase or sale of goods or services or for investment purposes.[5]
https://en.wikipedia.org/wiki/BitLicense
Thanks a ton! Sucks to life in NY with the whole Bitlicense thing but...eh what can you do.
A BitLicense is the common term used for a business license of virtual currency activities, issued by the New York State Department of Financial Services (NYSDFS) under regulations designed for companies.[1][2][3] The regulations are limited to activities involving New York or a New York resident. Those that reside, are located, have a place of business, or are conducting business in the State of New York count as New York Residents under these regulations.[4]
The regulations define virtual currency business activity as any one of the following types of activities:
receiving Virtual Currency for Transmission or Transmitting Virtual Currency, except where the transaction is undertaken for non-financial purposes and does not involve the transfer of more than a nominal amount of Virtual Currency,
storing, holding, or maintaining custody or control of Virtual Currency on behalf of others,
buying and selling Virtual Currency as a customer business,
performing Exchange Services as a customer business, or
controlling, administering, or issuing a Virtual Currency.
But, the 2 following activities are excluded from the definition of virtual currency business activity:
development and dissemination of software in and of itself,
merchants and consumers that utilize Virtual Currency solely for the purchase or sale of goods or services or for investment purposes.[5]
https://en.wikipedia.org/wiki/BitLicense
The regulations define virtual currency business activity as any one of the following types of activities:
receiving Virtual Currency for Transmission or Transmitting Virtual Currency, except where the transaction is undertaken for non-financial purposes and does not involve the transfer of more than a nominal amount of Virtual Currency,
storing, holding, or maintaining custody or control of Virtual Currency on behalf of others,
buying and selling Virtual Currency as a customer business,
performing Exchange Services as a customer business, or
controlling, administering, or issuing a Virtual Currency.
But, the 2 following activities are excluded from the definition of virtual currency business activity:
development and dissemination of software in and of itself,
merchants and consumers that utilize Virtual Currency solely for the purchase or sale of goods or services or for investment purposes.[5]
https://en.wikipedia.org/wiki/BitLicense
Can someone explain the bitcoin laws in the United States and further into the state of New York? I've seen many conflicting arguments relating to this.
You mean New York's "BitLicense" as of August 10, 2015?
Look in google.
Can someone explain the bitcoin laws in the United States and further into the state of New York? I've seen many conflicting arguments relating to this.
Jump to: