The latest draft of proposed regulations is stifling for bitcoin businesses (except for maybe the biggest well financed players in the bitcoin space). I just don't think Ben Lawsky wants his legacy to be that of promulgating regulations that turn New York into a bitcoin innovation wasteland, and I feel that he won't let it.

Hence, it's my best guess that nothing gets promulgated for quite a long time and it will be a seriously scaled down version of what the second draft is.