Discover and read the best of Twitter Threads about #bitlicense
Most recents (6)
1/ HERE'S AN EXTREMELY DETAILED article re: all the "regulatory theater" in #crypto prime brokerage today. It's prob moot now that at least 1 national bank is entering (so non-bank regulatory structures for crypto r obsolete). @ChrisKentouris @finopsreport
finopsinfo.com/trading/prime-…
finopsinfo.com/trading/prime-…
2/ I'm SO GLAD native #crypto cos r close to receiving #bank licenses, so the big national banks won't entirely co-opt native crypto cos in US market. Bank licenses are far superior to existing regulatory structures used in US crypto (@APompliano about to release podcast on this)
3/ The @finopsreport article details why a #bank license is superior to trust charter or #BitLicense--banks have much higher capital & reg rqmts, r directly plumbed into Fed, much better bankruptcy treatment for customers, only banks have safe harbor as "qualified custodian"+more
1/ GAME ON! The @USOCC's announcement that it's following #Wyoming by allowing national banks to custody #digitalassets is GREAT news for #crypto! Long overdue & hopefully will help U.S. regain ground it lost to other developed world countries by dilly-dallying for so long. 
2/ Winners=customers & #crypto VCs. This will spur M&A boom as US banks acquire #digitalasset custodians. Most must sell bc:
a. trust co. charters now obsolete &
b. #BitLicense now obsolete 👏
bc @USOCC leapfrogged 'em. Custodians now MUST have a bank charter to be competitive.
a. trust co. charters now obsolete &
b. #BitLicense now obsolete 👏
bc @USOCC leapfrogged 'em. Custodians now MUST have a bank charter to be competitive.
3/ But @USOCC didn't leapfrog #Wyoming, bc we already offer a bank charter.🤠
What's the distinction? A bank license was **ALWAYS** the optimal US regulatory structure for crypto custodians--not a trust charter or #BitLicense. Bank charters are SO much better for #crypto custody
What's the distinction? A bank license was **ALWAYS** the optimal US regulatory structure for crypto custodians--not a trust charter or #BitLicense. Bank charters are SO much better for #crypto custody
1/ NEWS out of #Wyoming ahead of #ConsensusInvest, previewed by Chris Land, gen. counsel of WY Banking Division at #FordhamLaw #blockchain regulation conf today:(1) solution to #BitLicense prob for #crypto cos=open a NY branch of a WY SPDI; (2) Wyoming just released custody rules
2/ Chris explained today that #Wyoming #SPDI, which is a state-chartered bank, is a passport into ~42 US states w/o need for addl state license. In the other states, such as NY, it may need to open a branch. Federal law protects parity of national banks & state-chartered banks...
3/ ...of other states, so if a state exempts a national bank from a regulation, then other state-chartered banks are exempt from it too. Thus...drum roll...since NY law exempts national banks from the #BitLicense, #Wyoming's #SPDI almost certainly exempt too (NOT LEGAL ADVICE!)
0/ The #cryptocurrency/#blockchain ecosystem is finishing the week in a flurry!
Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
1/ 🗽 New York State's D.F.S. granted both @LibertyX (fiat-to-#bitcoin service) and @RobinhoodApp (#crypto exchange) a #BitLicense to operate their respective businesses in the state of #NewYork. The latter also received a money transmitter license. dfs.ny.gov/about/press/pr…
2/ 📊 Social, peer-to-peer user #data network @3Boxdb has partnered with @AlethioEthstats to deliver the first #Ethereum block explorer with built-in social profiling functionality.
Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
0/ Fun fact: plenty of non-#bitcoincashfork-related news went on today!
Here, a thread devoted to a bunch of #crypto-related happenings from the past ~24hrs. Granted, not as entertaining as watching the hash wars play out in real-time, but it deserves your attention nonetheless.
Here, a thread devoted to a bunch of #crypto-related happenings from the past ~24hrs. Granted, not as entertaining as watching the hash wars play out in real-time, but it deserves your attention nonetheless.
1/ 🍭 #Bitcoin rewards rebate app @TryLolli raised an oversubscribed $2.25M seed round. Investors included @BainCapVC, @VersionOneVC, @ForerunnerVC, @SVAngel, @FJLabs and @DCGco.
Congrats @AlexAdelman, @MattSenter and team! Keen to see #Lolli progress. medium.com/@alexadelman/l…
Congrats @AlexAdelman, @MattSenter and team! Keen to see #Lolli progress. medium.com/@alexadelman/l…
2/ 📢 Aware of the community's increasing level of demand for greater transparency from the @HelloICONworld [ $ICX ], the I.F. issued a detailed write-up addressing their oft lacklustre performance re comms.
Worth reading for those interested in #ICON. medium.com/helloiconworld…
Worth reading for those interested in #ICON. medium.com/helloiconworld…
0/ #Crypto ending the week with a full head of steam. Not ready for the weekend just yet!
Here's the latest from the #cryptocurrency/#blockchain space over the past 24 hours or so...
Here's the latest from the #cryptocurrency/#blockchain space over the past 24 hours or so...
1/ 🔧 @POANetwork [ $POA ], @CompoundFinance, and @ConsenSys have teamed up to develop Mana, an open source, full node #Ethereum client written in Elixir, a programming language that runs on Erlang Virtual Machine (i.e., BEAM).
Read more: medium.com/poa-network/po…
Read more: medium.com/poa-network/po…
2/ 🤖 @Singularity_NET [ $AGI ] was chosen by @MaltaGov to help them fulfil their desire to explore #AI as an economic niche.
The #crypto startup - known for their work with @HansonRobotics' @RealSophiaRobot - will first help create the world's first 'Robot Citizenship Test'.
The #crypto startup - known for their work with @HansonRobotics' @RealSophiaRobot - will first help create the world's first 'Robot Citizenship Test'.
