A09899 - Relates to the audit of cryptocurrency business activity; prohibits licensing fee
AN ACT to amend the banking law, in relation to safeguarding New York cryptocurrency business activity and prohibiting licensing fees for such business activity
This is an important first step but it doesn't go far enough.
I have proposed a first edit which is to ban the word "Cryptocurrency" and replace it by "Intangible Commodity". I also proposed to invalidate the Bitlicense by including the followin: "CRYPTOCURRENCY" shall be a non binding and meaningless word in all New York State law, statute, and regulations.
The background on the why we need to ban the word CryptoCurrency is Thierry Philipponnat https://www.youtube.com/watch?v=lolFvY52LZw and Professor Mark T. Williams https://www.youtube.com/watch?v=poMdKtU9aRk&feature=youtu.be&t=16m47s
You can find my changes here: https://github.com/theochino/The-Bitcoin-Laws/commit/756484855dec0de02f2f5fd2acba2c5fff1a8491
Please feel free to add ISSUES and COMMENTS here: https://github.com/theochino/The-Bitcoin-Laws/issuesLet's help the politicians to write a law that will work and protect New Yorkers. Fell free to contact me if you need help with GitHub. Theo Chino