The state of New York has proposed forcing any corporation that deals with cryptocurrencies, such as Bitcoin, to record the name and address of everyone who pays or receives payment using a cryptocurrency. Corporations would need to retain this information for ten years.
These regulations infringe on the privacy rights of both Bitcoin businesses and users. They will create expensive and vague new obligations for startups that use cryptocurrencies.
It isn’t too late to stop this proposal, but the public comment period ends today.