When the state's BitLicense was put into action in 2015, it was hailed an industry-chilling regime. Now in the wake of major crypto catastrophes, it's being cast as a saving grace.
When New York's BitLicense was put into action in 2015, it was hailed as among the more onerous, industry-chilling regimes in town.Be smart: With it, Harris doesn't necessarily have to prove whether certain crypto is commodity or security, an arguably lower hurdle to regulate the industry compared to say, the CFTC or the SEC.
Harris appears to want to tighten the screws on crypto regulation, with what she's calling: "real-time supervision.""This idea that regulators should just come in once a year, go through books and interview staff...was fitting maybe for the 20th-century financial system, but certainly not for 21st century," she said.
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