Judge Dismisses Long-Shot Bid to Overturn New York Bitcoin Law

Judge Dismisses Long-Shot Bid to Overturn New York Bitcoin Law

The New York State Supreme Court has granted a motion to dismiss a two-year lawsuit that tried to overturn a technology-specific regulatory regime that targeted cryptocurrency, a newly released document shows. Theo Chino, the former bitcoin entrepreneur who sued the New York State Department of Financial Services (NYDFS) in October 2015 over the laws, often referred to generally as the "BitLicense." Officially introduced in June 2015, the policy requires bitcoin-related firms that reside in the state to apply for a license to operate. Chino accused the agency of over-regulating the bitcoin industry through its laws, claiming the restrictions it […]