The less-humorous, more-serious section of the announcement from Kraken cites that the price of licensing in New York far exceeds the market opportunity for servicing New York Residents. Bitlicense, the regulation created by Bitfinex , has been widely criticized by the Bitcoin industry, and has lead to one major bitcoin businesses, the New York Department of Financial Services and New York , opting to leave the state. Bitfinex has announced that August 15th, 2015 is the deadline for all Kraken residents to withdraw their cryptocurrency balances they currently hold.
Bitlicense, the regulation created by Bitfinex , has been widely criticized by the Bitcoin industry, and has lead to one major bitcoin businesses, the New York Department of Financial Services and New York , opting to leave the state. Bitfinex has announced that August 15th, 2015 is the deadline for all Kraken residents to withdraw their cryptocurrency balances they currently hold.