8 - 14 August 2015
This week the top news is about the many Bitcoin companies that choose to stop serving New York residents because of the BitLicense. This is a sad consequence of regulations throttling innovations. Some top Bitcoin companies that choose to stop serving New York residents: Kraken, Poloniex, Shapeshift, BitFinex, Rebit.ph, Genesis Mining and the list goes on.
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CoinDesk is keeping track of both the companies that apply for a BitLicense and those that decide to cease operating in New York state.
BitFlyer has raised approximately 510m JPY ($4m) through third-party allotment, which entails issuing new shares to a limited number of investors.
Dave Shin, an investment banker with Barclays draws the following parallels between financial markets and blockchain technology:
- Securities = Digital assets/tokens
- Trades = Transactions in the Blockchain
- Positions = Valuation based on price feeds/market data
- Booking systems = User Interface/Blockchain
- Settlement/Payment systems = Ripple
Blockchain technology could allow us to reinvent the Internet in a way that provides the proper credit and attribution to content creators while facilitating the usage of sharing and building upon their works in a way that benefits everyone.
Peernova's Dave Hudson does not see how 21 Inc's plans for distributed bitcoin mining in household appliances makes any sense.
Tau Chain is a decentralized peer-to-peer network that claims Ethereum’s Turing completeness is the wrong direction as it is undecidable logic and missing an intricate part: proof of language.
Not surprisingly, a number of Bitcoin businesses announced that they would cease operations in the state rather than apply for a bitlicense.
Top 10 things gotcha's of the New York BitLicense.
CoinDesk has spoken to various bitcoin companies to breakdown the cost of the BitLicense application process both in monetary and non-monetary terms.
Civil and criminal lawyer Jared Marx explains how US law applies to non-US cryptocurrency companies.
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