Digital Chamber of Commerce Comments on NYs BitLicense

WASHINGTON, D.C. The Chamber of Digital Commerce has submitted its comments to the New York Department of Financial Services (NYDFS) on the proposed BitLicense Rules and Regulations and are now available on its website at http://www.digitalchamber.org/assets/chamber-of-digital-commerce—bitlicense-comments.pdf.

The Digital Chamber’s comments state:

  • BitLicense regulations should not apply to businesses that store or transmit virtual currency and do nothing else;
  • Virtual currency businesses should have the freedom to invest;
  • Virtual currency businesses should have the freedom to innovate;
  • The “Existing Exchange Services” exemption discriminates against non-New York City persons.

 

“We have been very vocal in encouraging the industry to submit comments to the NYDFS. The Digital Chamber’s comments are posted on our website and the industry is welcome to use them as a resource,” said Perianne Boring, president of the Chamber of Digital Commerce.

The Chamber of Digital Commerce has endorsed granting an extension of the 45-day comment period to allow the industry more time to submit alternative proposals. It looks forward to further elaborating on its comments and working with the industry to build self-regulating solutions using blockchain technology.

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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 Digital Chamber will also offer a strong public affairs office, dedicated to creating a mainstream profile for digital currencies.

www.digitalchamber.org.