| | NOVEMBER 2nd, 2016
“Technology always has unforeseen consequences, and it is not always clear, at the beginning, who or what will win, and who or what will lose...”
– Neil Postman
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Theo Chino has spent years fighting New York State’s BitLicense.
He has just presented an affidavit in the hopes of getting his second lawsuit admitted to court. His case alleges that the New York State Department of Financial Services is not authorised to regulate cryptocurrencies. Even if it were, Chino argues, it has done so in an incoherent manner, placing tougher restrictions on bitcoin companies compared to established financial institutions.
At the moment, Chino's fight is a one-man war, but it could result in potentially big ramifications. If he wins, what will the impact be on New York’s fintech scene? And if he loses, will he at least trigger a discussion on a new approach? Or is this a soon-to-be-forgotten example of David losing to the Goliath of the New York finance sector? (Read the full story.)
Wait, there's more:
· UK insurance trade organization researches blockchain. Tell me more.
· Daiwa testing blockchain stock trading in Myanmar. Wait, what?
· Speculation still rampant in Zcash. Volatile price.
· SBI launches blockchain consortium with 42 Japanese banks. Collaboration.
· Blockchain energy startup awarded patent for P2P transfers. More info.
· E&Y Startup Challenge winners chosen. What do they focus on?
· Hyperledger grows with blockchain project for mobile apps. Read more.
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