NYDFS Bitlicense Second Draft to be Released Shortly

In a

by NYDFS Superintendent Benjamin Lawsky on Dec. 18th, he said the draft would be released "in the coming days." It has yet to be released, which is odd but not

something to be alarmed about.

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On Dec. 18th Superintendent Lawsky commented on these aspects of the new draft:

1) There will be a 30 day comment period after release of new draft.

2) Late January is expected timeframe for Bitlicense to go live.

3) Software developers, merchants, miners, consumers and investors are exempt.

4) Required to keep 7 years of records, down from 10 years in the original draft.

5) Not required to keep records for digital currency transactions.

6) Interim 2 year licenses will be prioritized to businesses that may not yet be able to qualify but wish to comply.