Bitcoin Foundation Global Policy Counsel expresses disappointment over NYDFS info delay

The Bitcoin Foundation’s General Policy Counsel, Jim Harper, has expressed disappointment over the New York Department of Financial Services’ (NYDFS)

The Bitcoin Foundation’s General Policy Counsel, Jim Harper, has expressed disappointment over the New York Department of Financial Services’ (NYDFS) delay in handing over “research and analysis” used for their recent Bitlicense proposal.

The Foundation had requested this information in order to better evaluate the proposal. After the NYDFS initially replied that it will be made available within 20 days, the Foundation received a letter stating that “it is anticipated that a response will be forthcoming within 120 days from the date of this letter.” This will be in December, well after the closing date for comments on the proposal, which was extended beyond the original 45 days.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

Trading Places: Finding The Best Jurisdiction for Your BrokerageGo to article >>

In his post titled “Disappointment”, Harper cynically expresses a silver lining in NTDFS’ reply: at least the information exists, for if it didn’t, the NYDFS certainly would have told them so.

In order for the Bitcoin community to properly evaluate the proposal, he says, they require this information: “There’s a lot of technical knowledge that could be married up with legal and regulatory knowledge if we had material to work with. Open government laws could really produce their fullest public interest benefits if the community could access this information.”

Got a news tip? Let Us Know