New York’s controversial BitLicense has driven away two more Bitcoin exchanges away from NY, these are Kraken and Bitfinex who are not going to be applying for the BitLicense at this time. Both exchanges will stop servicing clients living in the state of New York in order to avoid complications due to the financial regulation change. Another large Bitcoin exchange, namely BitStamp, apparently has plans for applying for a BitLicense in order to be able to continue to operate in New York. The biggest concerns that people have with the BitLicense regulations is regarding their privacy and since Bitcoin and crypto currencies are more privacy oriented it is no wonder that crypto currency businesses decide to get out of NY instead of applying for BitLicense.
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