Falling cryptocurrencies (bitcoins, dogecoins, shiba coins, binance coins and others) Credit: Igor Faun/Shutterstock.com NY Lawyer: Cost of Web3 Compliance Seen as Expensive, Time-Consuming Barrier for Small, Midsized Firms
New York was the first state to regulate cryptocurrency, but according to Jacqueline Drohan, a partner in Drohan Lee, who focuses on virtual currency, the earliest BitLicense issued had problems and "seemed almost like a fishing expedition by the regulators."
May 16, 2022 at 05:17 PM
5 minute read
As New York strives to become a hub for Web3 companies, a Manhattan attorney spoke of observing "competing general themes" with respect to some of the proposed legislation that would determine whether the state's BitLicense is going to be renewed, and if so, on what terms.
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