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New York Bitcoin Exchanges Close Operations in Response to Stricter Legislation
Aug. 11, 2015 04:46PM PST
Fintech InvestingTwo of New York’s largest bitcoin exchanges, Kraken and Bitfinex, shut down services in New York after the state imposed new licencing requirements.
Two of New York’s largest bitcoin exchanges, Kraken and Bitfinex, shut down services in New York after the state imposed new licencing requirements.
According to an article on CFO:
Kraken and Bitfinex joined a chorus of opposition to the controversial regulation, which requires bitcoin businesses to pay $5,000 for a “Bitlicense.” State regulators had set Monday as the submission deadline.
Hong Kong-based Bitfinex said all New York residents must withdraw all bitcoin balances currently held on the exchange by 4 pm EDT on August 15, the company said its website.
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