One of the issues making the rounds in the bitcoin community lately is the concept of escheat, or the transfer of “abandoned” property to the state (Commonwealth countries would use the term “reversion”). Some bitcoin users have asked that wallet providers provide an option to donate your property to a certain person or organization if…
A week has passed since the release of the New York Department of Financial Services’ proposed “bitlicense” rules, causing much weeping and gnashing of teeth among bitcoiners in the US. The rules are unfavorable to start-ups and create the impression that New York is hostile to cryptocurrencies, but they aren’t the Orwellian codex that they…
On July 17th, New York State Department of Financial Services Superintendent Benjamin Lawsky announced that his agency’s long awaited bitcoin licensing framework will be released for public comment on July 23rd. The public comment period, which lasts for 45 days, provides New York’s nascent bitcoin industry with the opportunity to read and suggest changes to…
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