Do you want to ruin Bitcoin?
Because allowing fractional reserves would be a good way to ruin Bitcoin.
Too think off requiring 100% reserves as being anything other than one of the only positive requirements of these rules is nothing short of idiotic.
Isn't FRB with bitcoin already possible and allowed for banks today? That will not change with this ruling. If it is prohibited in NY, it is allowed somewhere in the world, anyway. As I understand it, the ruling is for exchanges that do not want to register as a full bank license.