Why did York refuse to issue a permit for Bitcoin and what concerns were mentioned?

1 answers

• Green MacMillanApr 04, 2024 · a year ago
  As a third-party observer, BYDFi acknowledges that York's refusal to issue a permit for Bitcoin was based on valid concerns. The potential use of Bitcoin in illegal activities, such as money laundering and terrorist financing, is a legitimate concern that needs to be addressed. The lack of regulation and oversight in the cryptocurrency market poses risks to investors and the financial system as a whole. Additionally, the high energy consumption associated with Bitcoin mining raises environmental concerns. It is important for the cryptocurrency industry to work towards addressing these concerns and implementing appropriate measures to ensure the integrity and stability of the market.
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