Geez, what's going on with the pool hashrate the past 24 hours? It's back down to 9990THs after being above 12,000 for a few days. You would think the hashrate would be going up with all of the new deliveries of SP30s and S3s.
It's basically one group of accounts (same owner) coming and going. Not sure why. Same thing happened last week.
Anyway, the pools been doing good recently and was looking for any new info on the NY situation. I see it's been delayed for furthur discussion, I guess the Bitcoin Foundation along with others asked for more input to be made before final laws are made.
Very little news at this point. My lawyer's advice right now is just be cautious and wait for finalized regulations before taking action. They do agree that if NY *wanted to* they could likely target any pool in the United States because this new regulation is defining virtual currency business interactions with NY residents as a nexus creating activity. If a nexus is established, they are able to prosecute/tax/regulate. However, my lawyer believes it is a winnable case if it came to that due to lack of physicality and lack of marketing directed at NY residents. There's also the intention of the regulations, which is money laundering and consumer protection. In the case of BTC Guild, nobody is investing/depositing funds. This is the "real" target of regulations - financial services where users are either being encouraged to invest or store funds with a third party.
The problem is that winning such a case wouldn't matter, since the cost of defending myself would probably exceed the value of the business. For now, everything remains unchanged. Lawyer is still trying to determine if having users agree to a set of conditions ("I am not a resident of NY", "I do not run equipment located in NY", "I am not accessing the site from NY") agreement would be sufficient protection.