Bitcoin ATMs, Regulations and Compliance

Ben Lawsky on NYDFS Bitcoin Regulations...

Ben Lawsky on NYDFS Bitcoin Regulations... submitted by escapevelo to Bitcoin [link] [comments]

PSA: The new Bitlicense regulations would cover localbitcoins transactions. Any person who is buying or selling bitcoins through localbitcoins can now be charged with criminal activity if they did not register with the NYDFS and pay their GoonSquad Mafia Fee.

submitted by Cryptolution to Bitcoin [link] [comments]

NYDFS Changes its Mind on Releasing Additional Information in Regards to Proposed Bitcoin Regulation

NYDFS Changes its Mind on Releasing Additional Information in Regards to Proposed Bitcoin Regulation submitted by DynamicDK to Bitcoin [link] [comments]

Don't you get it? The NYDFS regulations are simply weeding out the bad bitcoin companies so only the successful ones operate

The NYDFS regulations for bitlicenses are clearly meant to weed out the bitcoin companies that are doomed to fail anyway.
Imposing capital and safety requirements may seem like an attempt against startups, but lets be logical here:
  1. Neither Coinbase, nor Blockchain, nor any other of the big players in bitcoin are even slightly worried about the bitlicenses, as they are successful enough to comply with the rules.
  2. If a startup wants to enter the game, it can do so everywhere else in the USA without a license. If it demonstrates its services are successful, it will have enough capital injected into the company from investors to apply for a NY license.
  3. If the startup is not successful, and cannot sustain itself, then it should not be in the game anyway. Do you really want another Mt. Gox or another Neo & Bee screwing lots of people in New York or elsewhere, giving the press enough ammo for FUD and thus screwing EVERYBODY who uses bitcoin? I can guarantee you that will scare people away from bitcoin. That's not what bitcoin needs.
So stop yer bitching and moaning. Set up your startup in California and, if you make it, move over to New York. If you fail, well, at least you didn't Gox anyone in NY.
submitted by toliro to Bitcoin [link] [comments]

With the proposed BitLicense from the NYDFS out, we now know when the first regulated American Bitcoin exchange will launch...

July 23: Proposal published in NYDFS journal
Sept. 6: End of 45-day Comment Period
After comments are in, the regulation will be revised by the NYDFS and companies will be approved within 90 days after implementation.
Which brings us to December 6th, 2014, as a tentative date for the FIRST regulated Bitcoin exchange to launch.
Huge.
Source: http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdf
submitted by bitcoinatmguy to Bitcoin [link] [comments]

NYDFS Asks for Comments on Proposed Bitcoin Regulation

NYDFS Asks for Comments on Proposed Bitcoin Regulation submitted by SteakingBad to nyc [link] [comments]

Bitcoin Companies React to NYDFS Regulation Proposal

Bitcoin Companies React to NYDFS Regulation Proposal submitted by BTCNews to BTCNews [link] [comments]

Anyone know how to submit feedback for NYDFS proposed bitcoin regulations?

Benjamin Lawsky's post said go here: http://www.dos.ny.gov/info/register.htm
However, it's not at all clear what to do on the URL. Anyone know the next steps?
FWIW, my feedback is I'm mostly okay with consumer protection requirements for anyone who is a full custodian, but everything else should be dropped. In particular, AML regulations in a pure crypto world are heavy handed and ineffective, considering that anyone can use decentralized currencies without going through third parties.
submitted by jseims to Bitcoin [link] [comments]

Hi, this is Ben Lawsky at NYDFS. Here are the proposed BitLicense regulations. : Bitcoin

submitted by themusicgod1 to ripplers [link] [comments]

Ben Lawsky from NYDFS posts the proposed BitLicense regulations - r/Bitcoin

Ben Lawsky from NYDFS posts the proposed BitLicense regulations - Bitcoin submitted by ThatchNailer to Rad_Decentralization [link] [comments]

NYDFS Extends BitLicense Bitcoin Regulation Comment Period To 90 Days

NYDFS Extends BitLicense Bitcoin Regulation Comment Period To 90 Days submitted by voyagerdoge to DogeNews [link] [comments]

The New York Department of Financial Services (NYDFS) proposes sweeping Bitcoin regulations—and they’re strict

The New York Department of Financial Services (NYDFS) proposes sweeping Bitcoin regulations—and they’re strict submitted by teelm to technology [link] [comments]

NYDFS Asks for Comments on Proposed Bitcoin Regulation

NYDFS Asks for Comments on Proposed Bitcoin Regulation submitted by cryptocurrencylive to CryptoCurrencyLive [link] [comments]

r/Bitcoin: Hi, this is Ben Lawsky at NYDFS. Here are the proposed BitLicense regulations. by /u/BenLawsky (37 mins. old)

submitted by rising_threads_bot to RisingThreads [link] [comments]

X-Post /r/Bitcoin - "Hi, this is Ben Lawsky at NYDFS. Here are the proposed BitLicense regulations."

X-Post /Bitcoin - submitted by rob-ot to moneylaundering [link] [comments]

Hi, this is Ben Lawsky at NYDFS. Here are the proposed BitLicense regulations. : Bitcoin

Hi, this is Ben Lawsky at NYDFS. Here are the proposed BitLicense regulations. : Bitcoin submitted by seagray to seagray [link] [comments]

Twitter's bitcoin scam compels New York regulator to call for action

This post was originally published on this siteThis post was originally published on this site The financial regulating body, New York State Department of Financial Services (NYDFS) said that the “double your money with bitcoin” scam as a result of the infamous Twitter hack on July 15 led to “weaponization” of major social media companies. The policymakers have called for strong cybersecurity […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

Free $10 in BTC at Gemini Exchange (also using stablecoin)

Gemini is a well-known cryptocurrency exchange from the US, regulated by the New York State Department of Financial Services (NYDFS), so definitely a trustworthy company.
They offer a $10 referral bonus after trading $100 in crypto, which works almost anywhere in the world. With the below steps you should lose max. $1 with the trading so that's $9 profit. There are no fees for withdrawing the crypto to your own wallet.
You can also deposit and trade with a stablecoin (either DAI or GUSD) to avoid any volatility risk.
Steps:
  1. Sign up through this link: https://gemini.com/share/rllvyzf6 non-ref link without bonus: https://gemini.com
  2. Verifieer your identity and address
  3. Tip: send their support a request here with the simple message 'Hi, can I get access to ActiveTrader?' to get access to the ActiveTrader interface with much lower fees: I paid just 2x $0,37 instead of 2x $2,99: https://imgur.com/a/G5cOy0G
  4. Deposit $100 of crypto to your Gemini account
  5. Trade for at least $100 in cryptocurrency (crypto to crypto or to USD and back) to trigger the bonus
  6. The $10 in BTC will be credited to your account within 1-2 days (usually at night)
  7. You can withdraw your deposit and bonus (no fees)
Full conditions here: https://gemini24.zendesk.com/hc/en-us/articles/360032830371-How-does-the-Referral-program-work-
No fees for up to 10 withdrawals per month: https://gemini.com/fees/transfer-fee-schedule#withdrawal-individual
If you're new to crypto, some extra information:
About stablecoins
Sending cryptocurrencies to and from Gemini
Hope this extra information helps, please let me know if I should add anything :)
submitted by blxyy to beermoneyuk [link] [comments]

New York Financial Regulator Greenlights 10 Tokens for Custody


The New York State Department of Financial Services has issued a greenlist of 8 virtual currencies for sale and trade, and 10 coins approved for custody by licensed entities.

According to a Aug. 3 update on the New York Department of Financial Services website (NYDFS), state regulators have approved 8 cryptocurrencies for listing and trading. These tokens include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Binance USD (BUSD), Gemini Dollar (GUSD), Pax Gold (PAXG), and the Paxos Standard Token (PAX). The NYDFS also greenlighted the same coins for custody as well as XRP and Ethereum Classic (ETC).

“Any entity licensed by DFS to conduct virtual currency business activity in New York may use coins on the Greenlist for their approved purpose,” the NYDFS stated. However, it clarified that any licensed business needed to inform the regulatory body prior to using any greenlisted token.

The announcement also stated that the NYDFS has the authority to remove any of the tokens from the greenlist at any given time, limit the activity of any coin, as well as discontinue the list entirely.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

New York Financial Regulator Greenlights 10 Tokens for Custody


The New York State Department of Financial Services has issued a greenlist of 8 virtual currencies for sale and trade, and 10 coins approved for custody by licensed entities.

According to a Aug. 3 update on the New York Department of Financial Services website (NYDFS), state regulators have approved 8 cryptocurrencies for listing and trading. These tokens include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Binance USD (BUSD), Gemini Dollar (GUSD), Pax Gold (PAXG), and the Paxos Standard Token (PAX). The NYDFS also greenlighted the same coins for custody as well as XRP and Ethereum Classic (ETC).

“Any entity licensed by DFS to conduct virtual currency business activity in New York may use coins on the Greenlist for their approved purpose,” the NYDFS stated. However, it clarified that any licensed business needed to inform the regulatory body prior to using any greenlisted token.

The announcement also stated that the NYDFS has the authority to remove any of the tokens from the greenlist at any given time, limit the activity of any coin, as well as discontinue the list entirely.
submitted by ami_nil1987 to airdropfactory [link] [comments]

$10 free in BTC at Gemini exchange (also using stablecoin)

Gemini is a well-known cryptocurrency exchange from the US, regulated by the New York State Department of Financial Services (NYDFS), so definitely a trustworthy company.
They offer a $10 referral bonus after trading $100 in crypto, which works almost anywhere in the world. With the below steps you should lose max. $1 with the trading so that's $9 profit. There are no fees for withdrawing the crypto to your own wallet.
You can also deposit and trade with a stablecoin (either DAI or GUSD) to avoid any volatility risk.
Steps:
  1. Sign up through this link: https://gemini.com/share/rllvyzf6 non-ref link without bonus: https://gemini.com
  2. Verifieer your identity and address
  3. Tip: send their support a request here with the simple message 'Hi, can I get access to ActiveTrader?' to get access to the ActiveTrader interface with much lower fees: I paid just 2x $0,37 instead of 2x $2,99: https://imgur.com/a/G5cOy0G
  4. Deposit $100 of crypto to your Gemini account
  5. Trade for at least $100 in cryptocurrency (crypto to crypto or to USD and back) to trigger the bonus
  6. The $10 in BTC will be credited to your account within 1-2 days (usually at night)
  7. You can withdraw your deposit and bonus (no fees)
Full conditions here: https://gemini24.zendesk.com/hc/en-us/articles/360032830371-How-does-the-Referral-program-work-
No fees for up to 10 withdrawals per month: https://gemini.com/fees/transfer-fee-schedule#withdrawal-individual
If you're new to crypto, some extra information:
About stablecoins
Sending cryptocurrencies to and from Gemini
Hope this extra information helps, please let me know if I should add anything :)
submitted by blxyy to beermoneyuk [link] [comments]

$10 free in BTC at Gemini exchange (also using stablecoin)

Gemini is a well-known cryptocurrency exchange from the US, regulated by the New York State Department of Financial Services (NYDFS), so definitely a trustworthy company.
They offer a $10 referral bonus after trading $100 in crypto, which works almost anywhere in the world. With the below steps you should lose max. $1 with the trading so that's $9 profit. There are no fees for withdrawing the crypto to your own wallet.
You can also deposit and trade with a stablecoin (either DAI or GUSD) to avoid any volatility risk.
Steps:
  1. Sign up through this link: https://gemini.com/share/rllvyzf6 non-ref link without bonus: https://gemini.com
  2. Verifieer your identity and address
  3. Tip: send their support a request here with the simple message 'Hi, can I get access to ActiveTrader?' to get access to the ActiveTrader interface with much lower fees: I paid just 2x $0,37 instead of 2x $2,99: https://imgur.com/a/G5cOy0G
  4. Deposit $100 of crypto to your Gemini account
  5. Trade for at least $100 in cryptocurrency (crypto to crypto or to USD and back) to trigger the bonus
  6. The $10 in BTC will be credited to your account within 1-2 days (usually at night)
  7. You can withdraw your deposit and bonus (no fees)
Full conditions here: https://gemini24.zendesk.com/hc/en-us/articles/360032830371-How-does-the-Referral-program-work-
No fees for up to 10 withdrawals per month: https://gemini.com/fees/transfer-fee-schedule#withdrawal-individual
If you're new to crypto, some extra information:
About stablecoins
Sending cryptocurrencies to and from Gemini
Hope this extra information helps, please let me know if I should add anything :)
submitted by blxyy to beermoneyuk [link] [comments]

New York State's Maria Vullo on Regulating Bitcoin Ripple/XRP NYDFS Bitstamp Licence - The Journey to Regulation Stellar Invests in Abra. Erisx Awarded NYDFS License. Bitcoin Is a Digital Asset Says Chinese Court LIVE🔴 Who Controls Bitcoin?, NYDFS Approves XRP Custody ... Bitcoin and the NY Bitlicence proposed regulations

Many in the bitcoin industry have expressed concern that the NYDFS rules are needlessly prohibitive, adding restrictions and safeguards far beyond those of traditional cash-based businesses. Given that bitcoin and other digital currencies have the potential to bring immense innovations to the payment world, there is considerable concern that the BitLicense would dramatically stifle bitcoin ... NYDFS Cryptocurrency Regulations. The NYDFS was concerned with a boom in cryptocurrency business in New York and decided to bring regulations after the Mt Gox hack. Speaking at the CBS Fintech Forum on April 10, 2018, NYDFS Superintendent Maria Vullo said, “DFS started looking into virtual currency in 2013, long before it was on the radar for most of the financial services world. At the time ... As legislators grapple with creating legislation intended to bring virtual currencies, such as bitcoin, within the scope of anti-money laundering regulations, the vulnerability of... With any new industry, the opportunities come first and the regulations usually follow. The Bitcoin ATM industry is pretty new, with the first machine in the U.S. going online in February 2014 and as of this writing, there are 2,227 Bitcoin ATM kiosks in the U.S. and a total of 3,750 crypto ATM kiosks worldwide. Currently, regulations are in place, but aren’t being enforced. Several companies have offered public comment on today's release of the NYDFS proposed regulations for bitcoin in the State of New York.

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New York State's Maria Vullo on Regulating Bitcoin

This webinar will discuss what the new regulations are, and what your organization can do to comply. All organizations under New York Department of Financial Services regulation must establish and ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Thoughts on Ben Lawsky and his proposed Bitcoin ban. Ben Lawsky of the New York Department of Financial Services NYDFS has proposed some very onerous and extreme regulations surrounding Bitcoin ... Dec.05 -- New York State Department of Financial Services Superintendent Maria Vullo discusses bitcoin, financial services regulation and the state's relationship with the federal government. One stop place for all your questions related to Cybersecurity Regulations and Compliance for NYSDFS (New York State Department of Financial Services) https:...

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