Topic: The Dogecoin Foundation comments on the NYDFS BitLicense - Posted: October 22, 2014
Dogecoin sets itself apart from other digital currencies through its amazing, vibrant community made up of people from all walks of life.
Our currency, which isn't even a year old, has brought us all together and has helped us achieve amazing and fun things: sending disadvantaged athletes to the Olympics, helping ones in need, seeing Doge's likeness whiz around the Talladega Speedway on national TV.
One significant threat to the continued prosperity of digital currencies like Dogecoin and their immense potential for community building and action is the proposed NYDFS BitLicense regulation. In order to address this, the Dogecoin Foundation submitted comments to the NYDFS and its Superintendent, Benjamin Lawsky.
In our comments, we focused on the potential for social good that digital currencies can unlock and offered our special perspective as a charitable non-profit organisation to aid them in their deliberations and to make sure that the interests of non-profits are served. We believe that a reasonable degree of regulation is key to the future success of digital currencies and welcome Superintendent Lawsky's inclusive approach and outreach towards the cryptocurrency community. We expect the NYDFS regulation to pave the way for regulation all around the world and if Lawsky continues his engagement with the community, then there is a good chance that the future will be bright for Dogecoin and other digital currencies.
A copy of our full comment to the NYDFS can be found here.
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