Quote from: resources on March 25, 2016, 12:17:34 PM

Since the New York State Department of Financial Services (NYDFS) launched its new means of regulating companies operating in the cryptocurrency industry, BitLicense, eight months ago in June 2015, the regulatory process has only approved one application.

Launched to foster acceptance by administrative bodies

When it was announced that the NYDFS was launching its BitLicense programme in New York, the news was met with positive remarks by leading industry professionals. Many take the view that regulation, although it may limit the cryptocurrency industry temporarily, is in reality hugely beneficial as it means there is growing acceptance by administrative bodies, and therefore hopefully, the general public will feel more comfortable using the new technology.

http://cointelegraph.com/news/eight-months-since-bitlicenses-inception-only-one-license-has-been-granted

This is insane. A sure shot way to stiffle innovation.
It is but natural for businesses to move to friendlier jurisdictions.