Cryptocurrency exchange platform ShapeShift has suspended service to all New York residents because of opposition to new rules regulating companies involved with bitcoins and other digital currencies, reports FT.
ShapeShift said on Thursday the new rules are anti-competitive and puts users at risk because it forces companies to extract personal information from them, which exposes them to hacks and identity theft.
The suspension is effective immediately. ShapeShift also called on other digital currency companies to make similar moves.
No way does ShapeShift win this, the government is not going to allow an electronic currency to develop and flourish without having the ability to track its users.
-RW
The anonymity of Bitcoin can be likened to a fly landing on the electrified grid of a $7.00 Zap Master/Bug Zapper you can buy at Walmart; blue flash, crackle, and a puff of white smoke. Sorry, but the Monsoon Season seemingly arrived in Arizona a month early.
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