The BitCoin Crash

(Before It's News)

by Martin Armstrong
Armstrong Economics

The crash in BitCoin losing about 50% of its value since July, has been on the back of concerns that the State of New York would regulate Bitcoins. In a speech at Cardozo Law School in New York on Tuesday night, Benjamin Lawsky, the superintendent of financial services for the state of New York, stated that New York will not require digital-currency software developers to have a license, as it had previously proposed. “To clarify, we do not intend to regulate software as software or software development,” he said, according to Reuters. He went on to say: “For example, a software developer who creates and provides wallet software to customers for their own use will not need a license.”

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