The BitLicense, which was finalized recently, sparked fear among the Bitcoin community during its revision process over 2014, and now that it is out, has courted criticism for the various licenses and approvals it requires of companies that store and transmit money for customers. It is seen as too stringent and restrictive of innovation.
The company has suspended service to all users in New York State, and is redirecting its homepage for internet visitors there to PleaseProtectConsumers.org, with a long note about the issue of identity theft and how Bitcoin and the blockchain can prevent it.
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