The New York State Department of Financial Services, or NY DFS, is proposing a “Conditional BitLicense” framework to reform its controversial BitLicense regulation introduced in 2015.
In a request for comment released on June 25, the regulator details its reformed approach to issuing conditional BitLicenses. This license type had already existed since the beginning of the program, but there were no clear rules for accessing it as it was entirely at the discretion of the regulator.
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