Kraken and Bitfinex Refuse to Apply For BitLicense

kraken and Bitfinex,the two leading bitcoin exchange platforms both expressed that they will not apply for BitLicense at present.
BitLicense is a regulation for digital currencies in the New York State,which has many criticisms from bitcoin community.The supervisor set a deadline (August 8,2015) for related companies in NY to apply.

So far,Larger exchanges including Gemini,itBit and Bitstamp are all applying for BitLicense,while smaller companies like GoCoin,Poloniex all expressed that they will leave NY.

The exchange Kraken,whose headquartered is located in San Francisco,has a worse relationship with U.S. regulator. The company once stopped withdrawal of US dollars at the beginning of 2014 and recovered in October 2014.Now US citizen still can’t trade with USD at the exchange.

Kraken said:We believe that the regulation from NY is valuable,but it spends too much.Therefor,we have no choice but to leave NY.

The exchange Bitfinex,whose headquartered is located in Hong kong directly announced that they will refuse to apply for BitLicense.

Both exchanges also said they will keep watching the supervision situation of NY and expected to reopen the exchanging service.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s