Poll Review: The Proposed NYDFS BitLicense Regulations

Since the New York Department of Financial Service released their BitLicense proposal for a public commenting period

, there’s been a lot of chatter surrounding the topic.

One one side you have the people that think this could be a very good start to regulating bitcoin, and then you have the folks who have crossed their arms and are shaking their heads vigorously with disappointment.

I wanted to see what the visitors of this website thought. So I put together a poll last week that was pretty straightforward: The proposed NYDFS Bitcoin Regulations…

Respondents were provided with two possible answers: “Are a total failure” and “Are a good start.”

In total, 142 people responded to the poll. Sixty-five percent of those people (which works out to 93 votes) said they deem the BitLicense proposals to be a total failure. The other thirty-five percent (49 voters) consider the proposals to be a good start.

It probably won’t come as a surprise that a majority of respondents consider the NYDFS BitLicense proposal to be a total failure. On a number of different fronts, some argue the proposals are simply going against everything bitcoin stands for.

Some business owners that operate in the New York state are even concerned they will be unable to comply with the proposal, should it become regulation. There’s even talks of some businesses effectively “geofencing” New York, preventing customers living in the state from using their services.

Either way, there’s still much more work to be done.

Now let’s post up this next week’s advertisement, which looks into how frequently (or infrequently) you use bitcoin.


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