KB Topic Blockchain Industry

Don't be Afraid of Blockchain Regulation
It was only a matter of time until regulations infiltrated the world of cryptocurrency. In 2015, New York became the first jurisdiction to do so. BitLicense was established to serve users in the state of New York. Many argued over-compliance and regulation would restrict startup activity. The goal was to support and promote businesses with new and emerging technologies. However, it's important to remember that those who regulate aren't always in the right. In the case of New York, it alienated large startups and exchanges. Bitfinex, Poloniex, Kraken, and Shapeshift all left the area, a move which completely changed the Bitcoin landscape in New York. Nearly four years later and these exchanges have yet to return to the Big Apple.
December 08, 2018 10:07 PM


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