French Archives -
French Montana smells a chance to cash in on his name with all kinds of products … particularly perfume. French filed docs, obtained by TMZ, seeking to trademark his name for commerce in the health and beauty market. French says he wants to…
Corsica’s nationalist leaders are demonstrating along with unions and students ahead of a visit next week by French President Emmanuel Macron.
Protesting guards are blocking some of France’s 188 prisons as a conflict triggered by attacks on guards enters its second week. About 100 guards protested in front of the Marseille prison on Monday, setting a small fire and blocking entrances. It wasn’t immediately clear how many prisons were affected by…
A society of high-minded French purists have deemed another English-derived word unfit for their language. According to the Local , Commission d’enrichissement de la langue française has zeroed in on the use of “smartphone.” Known in English as the Enrichment Commission for the French Language, the group is affiliated with conservative…
Two former French presidents, François Hollande and Nicolas Sarkozy, have told Saudi Arabia’s crown prince that the arrest and detention of billionaire Prince al-Waleed bin Talal raised worries among foreign investors, according to French and Saudi government advisers.
WSJ.com: What’s News Europe
In France, the #MeToo campaign is known as #BalanceTonPorc, meaning “Squeal on Your Pig”—and some women, including actress Catherine Deneuve, say it has gone too far. Deneuve was around 100 French women, including performers, writers, and academics, who signed a letter published in Le Monde Tuesday that slammed the…
The country’s new leader is moving rapidly to reshape France in his own image, revamping labor laws, co-opting opposition political parties and dividing union leaders. The question now is whether his free-market blitz will stick.
WSJ.com: What’s News Europe
As the story goes, in the small French village of Rennes-le-Château a priest named François-Bérenger Saunière managed to accumulate an unlikely sum of money, giving birth to a legend that he had found buried treasure. It was said that he himself buried what he didn’t spend somewhere on the grounds…
This week the longstanding New York Supreme Court case involving the state’s Bitlicense was dismissed. The lone bitcoin entrepreneur, Theo Chino, who has been fighting in court for years, relentlessly trying to get the regulatory framework created by Ben Lawsky overturned, says he will appeal the decision.
The Controversial Bitlicense Forced This Man Out of Business, and He’s Been Fighting to Get the Regulations Overturned for Years
The ‘Bitlicense’ is a term used to describe the regulatory guidelines created by Ben Lawsky and the New York State Department of Financial Services. The regulations have been considered controversial since the day they were drafted as they require businesses to follow strict KYC/AML rules and pay hefty fees to stay in the cryptocurrency business. Many individuals and advocacy groups believe the Bitlicense regulations stifle New York-based companies and their ability to innovate while also hindering cryptocurrency startups. Theo Chino believes New York’s laws are too extreme and the Bitlicense forced his startup to close operations.
‘Obviously, Our Client Disagrees With This Conclusion’
Now the Supreme Court judge has granted a motion to dismiss the entrepreneur’s case. New.Bitcoin.com spoke with Chino’s lawyer, Pierre Ciric, who sent us a statement on Chino’s behalf. The statement explains that “Judge Carmen St. George limited her decision to a single question, concluding that Chino did not have the required standing to challenge the Bitlicense regulation.”
This means that the court concluded that Chino and his business did not suffer the necessary injury to be able to challenge the defendant’s actions.”
Obviously, our client disagrees with this conclusion, since it would mean that, for all practical purposes, no business located in New York or in another state would have access to the court system to challenge this regulation, and possibly other regulations promulgated by NYDFS.
The Judge’s Ruling Will be Appealed
The news follows the recent delay a few months ago when the judge scheduled a new hearing. Ciric told us the news of the delay, which at the time, gave the legal team optimism as Ciric thought postponing the hearing was a good move. “The record before the judge is complex. It appears to be a good move for the judge to give herself some time to parse throughout the record, given the complexity and the number of issues raised in the case,” Ciric explained back in October. The recent statement emphasizes that this week’s ruling will be appealed.
“Our client has decided to appeal this decision,” explains the law firm’s written account. “In New York, such appeals are filed with the Appellate Division, First Judicial Department of the Supreme Court of the state of New York, located on Madison Avenue.”
What do you think about Judge Carmen St. George granting a motion to dismiss Theo Chino’s case against the Bitlicense? Let us know your thoughts in the comments below.
Images via Shutterstock, NYFDS, and Theo Chino.
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The post French Entrepreneur’s Case to Overturn the Bitlicense Dismissed appeared first on Bitcoin News.