New Hampshire Begins Legislation EXEMPTING Bitcoin from Money Transferer License Requirements! Biggest News In Crypto since 2011!!
In what could be the single biggest regulatory interference against Bitcoin, and cryptocurrencies in general, is the fact that to transfer between coins & fiat currencies, you in many cases needed to register as, basically, a bank, including fees and costs in the tens of millions of dollars.
The update to the New Hampshire Money Transmitter laws would change to specifically exempt "persons conducting business using transactions conducted in whole or in part in virtual currency."
What New Hampshire is attempting to do is completely exempt bitcoin businesses from the requirement. Since it is a federal law, and Trump has banned new regulations and a 75% or more reduction is regulations, this has a high likelihood of passing through the Federal Agencies.
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The story my article was written discussing was first reported on CoinDesk here: http://www.coindesk.com/nh-money-transmission-exemption-bitcoin/
This is really good news being from the state and seeing what happened in oct/nov with a lot of worried faces. Thanks for the update and Well that's good maybe poloniex will start letting us use their exchange platform again.
I know so exciting maybe can do crypto business right if this catches Steem!