29 Jul '14, 10pm

Steve Stockman: New York’s Bitcoin Regulation Could Crush the Industry #bitcoin

For Steve Stockman, US Representative for the 36th Congressional District of Texas, bitcoin presents an opportunity to provide much-needed fuel to a struggling US economy while creating a new class of jobs that redefines the Internet. But, if regulations like those proposed by the New York Department of Financial Services (NYDFS) proliferate, Stockman fears the bitcoin business space – and its community – will face pressures that may ultimately prove insurmountable. In a new interview with CoinDesk, Stockman called the NYDFS proposals too onerous considering the relative infancy of bitcoin. Further, he argued that state-based regulators like those in New York are being too aggressive in their efforts to impose rules on digital currency. Stockman told CoinDesk: “I think New York is putting the cart before the horse.” He added that the regulations, far from laying the founda...

Full article: http://www.coindesk.com/steve-stockman-new-york-bitcoin-r...

Tweets

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#Bitcoin

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