The hope is the BitLicense will provide this regulatory clarity to allow competent, compliant virtual currency business to operate legally in the US.
By the way you don't need a petition to communicate with the New York Regulators. Commissioner Lawsky spoke at a conference on Tuesday and has invited public comment even saying he gets a lot of feedback from twitter.
Hopefully.
I've requested a meeting with him so hopefully he will accept. If not then a detailed letter signed by a couple hundred people may at least be read.
Twitter is okay but not exactly the level of engagement I'd prefer to discuss something so important and complex.
I think the hearings were lacking in the representation of those who speak about the drawbacks of regulation.
I know one goal might be to have compliant and competent firms operate in the US but the effect could be that it drives away competition and the only operators end up being those who can deal with a mountain of regulations.