Blakeman Vows to Axe BitLicense as New York Crypto Regulatory Policy

Republican gubernatorial candidate Bruce Blakeman has pledged to repeal New York State's BitLicense regulatory framework if elected governor. Introduced in 2015, BitLicense is considered one of the strictest and most comprehensive crypto policies in the United States.

Blakeman criticized Governor Kathy Hochul for not engaging with the cryptocurrency industry, saying that she takes a 'my way or the highway' approach. He vowed to work with businesses to develop a more favorable regulatory environment.

The Nassau County Executive argued that BitLicense creates significant barriers for companies looking to launch and grow in New York, citing costs of up to $100,000 for the license.