The New York Department of Financial Services (NYDFS) has announced that it is considering creating a special type of transitional BitLicense tailored to the needs of small businesses and startups.
The special licensure would allow bitcoin startups that meet certain criteria to operate within a more flexible regulatory framework for a yet-to-be-determined period of time, during which examinations on the business would be conducted.
The formal announcement of the NYDFS’ shift in strategy came during superintendent […]
