is this what regulation will look like in all states/federally? looks kind of burdensome for businesses....
The regulation one state adopts, especially one like NY regarding finance, can set precedent/framework for other states to follow.
Let's try to get a bit organized. A problem with the decentralized nature of Bitcoin is lack of default leadership on some potentially key issues. I propose we start highlighting particularly offensive aspects of this framework, say on a scale from 1-10 with 10 being worst. This can help focus our collective objections.
(5) controlling, administering, or issuing a Virtual Currency.
This seems a definite 10 for horribleness. How do they figure this? It means if I decided to open a Chuck E. Cheese's shop and issue game tokens redeemable in store or online I'd need a Virtual Currency license first?!? Ridiculous! That's a free country?