WASHINGTON, D.C. – The Chamber of Digital Commerce (“Digital Chamber”) applauds the New York Department of Financial Service’s (DFS) decision to extend the comment period for the proposed “BitLicense” regulations for virtual currency firms.

The Digital Chamber, through a series of grassroots initiatives, urged the DFS to extend the comment period to give the industry needed time to respond to the proposed regulations.  Today the DFS announced an extension of 45 days will be added to the comment period.  This signals that our voices were heard, and that DFS is taking steps in the right direction.

Timeline of BitLicense Events:

July 17:            DFS proposes BitLicense regulations
July 19:            Digital Chamber opens doors
July 23:            Digital Chamber issues Call to Action, encouraging industry to submit comments on BitLicense
August 6:         Digital Chamber launches petition, asking DFS to extend comment period 
August 19:       Digital Chamber submits comments to DFS
August 21:       DFS extents the comment period to October 21, 2014

The Chamber  is now looking for opportunities to work, and help the industry work, with DFS to put forward proposals that meet DFS’ goals without stifling beneficial innovation.

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About the Chamber of Digital Commerce:
The “Digital Chamber” is the first DC-based, non-profit, trade association dedicated to promoting the acceptance and use of digital currencies. Over the next several months, The Digital Chamber is building a full suite of government affairs services for the digital asset industry in Washington. The DC will also offer a strong public affairs office, dedicated to creating a mainstream profile for digital currencies.
www.digitalchamber.org