Kill the BitLicense

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The said goal of the BitLicense upon its approval in 2015 by the state’s Department of Financial Services (NYDFS) was to guard shoppers and guard in opposition to illicit actions like cash laundering. However, the BitLicense has gone properly past ensnaring ne’er-do-wells in crypto. By pouring pesticide on the business, the BitLicense additionally zaps new shoots, indiscriminately stemming life in the sector such that solely giants akin to Square and Coinbase, each of which maintain BitLicenses, can survive.