Couldn’t agree more with Capaccioli.

The regulation is not removing uncertainty from the market, it is instead increasing it. The broad and all inclusive language used, at least at first sight, is incompatible with Bitcoin’s pseudo-anonymous and distributed nature.

BitLicense as-is does not protect consumers, but stifles innovation with unnecessary and costly burdens. Bitcoin is different from the rest of the financial system and requires some careful thought before regulations are put into place.

Finding the right boundaries and the right balance is a difficult task that requires meticulous and conservative attention.