NY Looks To Push BitLicense Program At 5-Year Mark

Law360 (June 24, 2020, 8:30 PM EDT) -- New York's financial services regulator plans to roll out a provisional licensing option for cryptocurrency startups and is adopting a streamlined process for cryptocurrency companies it oversees to offer new coins, initiatives that come as the state's cryptocurrency licensing regime marks its fifth anniversary.

In a series of actions announced Wednesday, the New York State Department of Financial Services issued a proposal outlining its concept for a conditional version of its BitLicense that would give startups and other early-to-mid-stage companies a regulatory onramp to the New York market.

This conditional license would allow its recipients to engage in cryptocurrency activities in...

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