BitLicense Comment Period Extended

By Aug 21, 2014 1:55 PM EDT

NEW YORK (InsideBitcoins) — In response to industry demand, the New York State Department of Financial Services (NYDFS) has extended the comment period for its proposed BitLicense regulations.

“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,” a statement on the department’s website says. “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.”

The department also said that an additional comment period would be initiated if the NYDFS makes “material changes” to its initial proposal.

The complete proposal can be viewed here.

Public comments may be submitted to:

DFS Office of General Counsel
Dana V. Syracuse
New York State Department of Financial Services
One State Street
New York, NY 10004

Or by email to: dana.syracuse@dfs.ny.gov