THELOGICALINDIAN - Following the absolution of the BitLicense adjustment by the New York Department of Financial Services ShapeShiftio an Altcoin and Bitcoin barter belvedere has abeyant account to all association of New York State
The Bitcoin and Altcoin barter now responds to “BitLicense” Regulation and launches a new armpit committed to consumer’s aegis awareness, PleaseProtectConsumers.org.
In acknowledgment to the new regulation, ShapeShift is redirecting all armpit cartage from New York to the new initiative: PleaseProtectConsumers.org and agreeable added agenda bill companies to do the same. The armpit provides an overview of the character annexation botheration in America and encourages New Yorkers to acquaintance their assembly and media outlets.
The aggregation says NY’s new anti-competitive licensing scheme, violates customer protections and puts users at risk. According to the Bureau of Justice Statistics, character annexation is a multi-billion dollar botheration in America–more cher than burglary, agent theft, and acceptable acreage theft, combined.
Voorhees, the company’s CEO stated:
“Identity annexation is an epidemic, added cher to association than abounding added forms of annexation and crime. It is common because the aged banking system–based on acclaim cards and banks–only works back claimed advice is absorbed to your transaction. Bitcoin has assuredly apparent this problem, by enabling 100% defended affairs after adhering your clandestine information. Now, New York wants to authorization that consumers abide to be put at risk, alike admitting technology has provided a band-aid to character theft.”
The BitLicense requires companies to angrily abstract personal, clandestine advice from users of Bitcoin services, thereby advertisement these users to hackers and character theft. When a customer’s name, address, ID, and added clandestine capacity are calm by companies, they can end up in databases which are commonly afraid and abused. In June this year alone, the clandestine annal of millions of Americans accept been baseborn from government computers.
Shapeshift considers that New York is acclimation an bent and alarming abstracts accumulating of users, and for that it’s suspending its casework to that territory.
The aggregation hopes added jurisdictions will be beneath adventuresome with the clandestine advice of their residents, and that their move ability activate an departure of cryptocurrency accompanying companies from New York.
Press Release provided By Shapeshift.io
