New York Bitcoin Exchanges Close Operations in Response to Stricter Legislation

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.

 
Click here to read the entire article.