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News Link • Bitcoin

NYDFS extends BitLicense comment period 45 extra days

• http://www.coinbuzz.com

By - August, 22nd 2014

Earlier today Superintendent Ben Lawsky of the Financial Services for the State of New York announced on Twitter that the New York Department of Financial Services will extend the BitLicense comment period for an additional 45 days, bringing the comment period to 90 total days.

The deadline, which the NYDFS says could still be extended even further if material changes are made (which will almost definitely be the case), is now set at October 21.

This much expected announcement comes after a number of organizations and individuals sent requests and petitions to the NYDFS asking for such extensions, and is no doubt appreciated by the community.

The NYDFS posted the following on their webpage regarding the comment period extension:

"There has been a significant amount of public interest in and commentary on DFS' proposed regulatory framework for virtual currency firms. A number of groups and individuals have also requested additional time to study the proposal given that it is the first of its kind and could potentially serve as a model for other jurisdictions. As such, DFS has doubled the length of the initial comment period for its proposed Virtual Currency regulatory framework to 90 days from 45 days. Comments will now be due October 21, 2014."

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