there will be more of this kind of 'regulation' coming .. which is a thinly-veiled attempt to allow coinbase and circle to create a monopoly. Only the big companies can afford to 'play by the rules'
Can you elaborate as to which rules would be costly to abide by? What the NY regulations say in a nutshell is that companies that exchange BTC to and from fiat must identify people who they trade with (this should already be done due to AML rules), and that exchanges must have enough BTC in their possession to cover all of their customers BTC deposits (in other words they cannot operate on a fractional reserve system).
