APR 23 DIGEST: BITLICENSE COMING IN MAY, BITCOIN FAX SERVICE LAUNCHES

The cryptocurrency world in April 2023 was a whirlwind of regulatory updates and innovative solutions, and the news digest for April 23rd perfectly encapsulates this dynamic period. The NYDFS deputy superintendent hints at BitLicense s imminent release, Rand Paul is set to appear at a digital currency-focused event in New York City this weekend, and more top news.At the forefront was the impending finalization of New York's BitLicense, a regulatory framework that had been the subject of much discussion and anticipation within the digital currency community. Cumberland, a trading desk that provides institutional over-the-counter (OTC) liquidity for numerous cryptos, now holds a Bitlicense.Spearheaded by Benjamin Lawsky, Superintendent of the New York Department of Financial Services (NYDFS), the BitLicense aimed to provide a clear set of rules for businesses operating with digital currencies in the state. Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins.The anticipation surrounding its release was palpable, with Lawsky hinting at a final version before the end of May. California is working to stop businesses from moving out of the state in its version of the BitLicense; Patrick Byrne signs US$30M deal to bridge the gap between Bitcoin technology and Wall StreetHowever, it wasn't all regulation; a new Bitcoin Fax service emerged, offering a convenient way to send faxes globally using cryptocurrency without requiring user registration.This blend of regulatory developments and technological advancements paints a picture of a maturing industry navigating both challenges and opportunities. Ben Lawsky discloses details of the BitLicense revision and Transitional BitLicense coming soon in Washington DC this week.More Details and Links to NYDFS upThis article dives deep into the details of the BitLicense, the Bitcoin Fax service, and other relevant news from that period.

This combination reflects the two major trends within the Cryptocurrency space as it matures, regulatory hurdles and the rise of adoption. The NYDFS deputy superintendent hints at BitLicense s imminent release, Rand Paul is set to appear at a digital currency-focused event in New York City this weekend, and more top news. Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is noLawsky stated that his gut feeling was that digital currencies are here to stay. This article was written by Steven deCsesznak The New York State Department of Financial Services, or NYDFS, has constructed a regulatory framework forThese regulations provide a regulatory framework for Bitcoin businesses in New York State.

The Imminent Arrival of the BitLicense

The development of the BitLicense was a significant event for the cryptocurrency industry, particularly for businesses operating in New York.The New York State Department of Financial Services (NYDFS) constructed a regulatory framework intended to provide clarity and structure. Genesis Global, announced that Genesis was recently granted the Bitlicense. The company that provides OTC solutions to institutional buyers can now operate freely in New York A territory thatHowever, the proposed regulations also raised concerns among some industry participants, who feared that overly strict rules could stifle innovation and drive businesses out of the state.

Many believed that the proposed BitLicense regulations would give regulators the ability to inspect entrepreneurs' personal garages, but that claim was quickly rebutted. APR 23 DIGEST: BitLicense Coming in May, Bitcoin Fax Service Launches; APR 22 DIGEST: Robot Arrested for Buying Drugs on Darknet, Robocoin Targets Remittance Market Bitcoin LamassuNevertheless, Ben Lawsky's initiative sought to legitimize the cryptocurrency space within New York, establishing guidelines for businesses to follow.

Who is Benjamin Lawsky?

Benjamin Lawsky was the Superintendent of the New York Department of Financial Services (NYDFS) during the development and initial implementation of the BitLicense.He played a pivotal role in shaping the regulatory landscape for digital currencies in New York, aiming to balance consumer protection and industry innovation. New York Department of Financial Services superintendent Benjamin M. Lawsky anticipates the final version of the BitLicense regulatory framework will be released sometime before the end of May.His approach was often viewed as forward-thinking, recognizing the potential of cryptocurrencies while also addressing the need for regulatory oversight.

The Significance of the BitLicense

The BitLicense held significant importance for several reasons:

• Regulatory Clarity: It aimed to provide a clear set of rules for businesses dealing with digital currencies in New York, reducing uncertainty and fostering a more stable operating environment.
• Consumer Protection: The regulations included provisions to protect consumers from fraud and other risks associated with digital currencies.
• Industry Legitimacy: By establishing a licensing framework, the BitLicense helped to legitimize the cryptocurrency industry in the eyes of regulators and the public.
• Setting a Precedent: New York's BitLicense served as a model for other states and countries considering how to regulate digital currencies.

Concerns and Criticisms

Despite its potential benefits, the BitLicense also faced criticism from various quarters:

• Compliance Costs: The regulations imposed significant compliance costs on businesses, particularly smaller startups, potentially hindering innovation.
• Stringent Requirements: Some argued that the requirements were too strict, making it difficult for legitimate businesses to obtain a license.
• Limited Scope: Others felt that the BitLicense focused too narrowly on certain types of digital currency businesses, leaving gaps in the regulatory framework.

The BitLicense Today

While the initial BitLicense faced challenges, the framework has evolved since its inception. Bitcoin Fax allows you to send faxes anywhere in the world with no sign up required.As of December 2025, the NYDFS had approved 33 companies for offering crypto services and has been amended over time.It's also worth noting the current Mayor of New York City, Eric Adams, announced his intention to launch a Bitcoin bond to raise funds for the city and eliminate the controversial BitLicense, which has long been criticized for stifling innovation.

Bitcoin Fax: Sending Faxes with Cryptocurrency

Amidst the regulatory developments, a new service called Bitcoin Fax emerged, offering a unique solution for sending faxes using cryptocurrency. Interpol develops its own altcoin for conducting crime research, Republican presidential candidate Rand Paul believes Bitcoin should not be feared or regulated, and more top stories for April 24.This service allowed users to send faxes anywhere in the world without requiring any sign-up or personal information.

How Bitcoin Fax Worked

The Bitcoin Fax service was designed to be simple and user-friendly.Users could upload their documents to the platform, specify the recipient's fax number, and pay for the service using Bitcoin or other cryptocurrencies. Digital currency exchange Buttercoin has announced it is shutting down its operations; CoinShark.io seeks to disrupt the mortgage industry with a bitcoin mortgage payment service and more news.Once the payment was confirmed, the fax would be sent to the specified number.

Benefits of Using Bitcoin Fax

Bitcoin Fax offered several advantages over traditional fax services:

• Anonymity: No sign-up or personal information was required, providing users with a high degree of privacy.
• Global Reach: The service could send faxes to anywhere in the world, making it convenient for international communication.
• Cryptocurrency Payments: Users could pay for the service using Bitcoin or other cryptocurrencies, providing a secure and decentralized payment option.
• Convenience: The online platform made it easy to send faxes from anywhere with an internet connection.

The Significance of Bitcoin Fax

The launch of Bitcoin Fax demonstrated the growing adoption of cryptocurrencies in various industries and applications. Bitcoin News Articles from BitLicense tagBy providing a practical solution for sending faxes, the service highlighted the potential of Bitcoin and other digital currencies to disrupt traditional business processes.

This type of service illustrates that there is innovation that is happening even while regulations are being developed.

Other Notable News from April 2023

The April 23rd digest also included other interesting news items from the cryptocurrency world:

Interpol's Altcoin for Crime Research

Interpol, the international criminal police organization, was reportedly developing its own altcoin for conducting crime research. It felt like a response to our blog post highlighting the fact that the proposed BitLicense would allow regulators to inspect Bitcoin entrepreneurs garages.This initiative aimed to provide law enforcement agencies with a better understanding of how cryptocurrencies are used in illicit activities and to develop strategies for combating cryptocurrency-related crime.

Rand Paul's Stance on Bitcoin

Republican presidential candidate Rand Paul expressed his belief that Bitcoin should not be feared or regulated.Paul's stance reflected a growing sentiment among some policymakers that cryptocurrencies should be allowed to develop and innovate without undue government intervention.

Buttercoin's Shutdown

Digital currency exchange Buttercoin announced that it was shutting down its operations.This closure highlighted the challenges faced by smaller cryptocurrency exchanges in a competitive market.

The Wider Cryptocurrency Landscape in April 2023

Market Trends

During April 2023, the cryptocurrency market experienced mixed performance.Bitcoin and other major cryptocurrencies saw periods of volatility, influenced by factors such as regulatory developments, macroeconomic trends, and investor sentiment.

Technological Advancements

April 2023 witnessed continued innovation in blockchain technology and cryptocurrency applications.New projects and platforms emerged, exploring use cases in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), and supply chain management.

Adoption and Integration

Cryptocurrencies continued to gain traction among mainstream users and businesses. In November 2025, Tokyo-based bitFlyer was awarded the fourth BitLicense [23] and Genesis Global Trading was awarded the fifth BitLicense in May 2025. [24] In June 2025, Hong Kong based Xapo was awarded the sixth BitLicense [25] and Square, Inc. was awarded the seventh BitLicense. [26] BitPay was awarded the eighth BitLicense in July 2025. [27]More companies began accepting Bitcoin and other digital currencies as payment, and institutional investors showed increasing interest in the asset class.

Also during April, Igot rolled out its payment processing service to 40 countries and there was a movement to split The Bitcoin Foundation into two separate organizations.

Frequently Asked Questions

What exactly is the BitLicense?

The BitLicense is a regulatory framework established by the New York State Department of Financial Services (NYDFS) to regulate businesses operating with digital currencies in New York. New York City could soon become a crypto trailblazer again. During a speech at Bitcoin 2025, Mayor Eric Adams announced his intention to launch a Bitcoin bond to raise funds for the city and eliminate the controversial BitLicense, a regulatory framework that has long been criticized for stifling innovation.It requires companies to obtain a license to engage in certain activities, such as virtual currency exchange, transmission, and custody.

Why was the BitLicense created?

The BitLicense was created to provide regulatory clarity, protect consumers, and prevent illicit activities in the cryptocurrency space. Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web 3.0 news with analysis, video and live price updates.It aimed to balance innovation with the need for regulatory oversight.

What are the key requirements of the BitLicense?

The key requirements of the BitLicense include:

• Applying for and obtaining a license from the NYDFS
• Maintaining adequate capital reserves
• Implementing robust anti-money laundering (AML) and know-your-customer (KYC) procedures
• Protecting customer funds and data
• Complying with cybersecurity requirements

How has the BitLicense impacted the cryptocurrency industry in New York?

The BitLicense has had a mixed impact on the cryptocurrency industry in New York. Interpol develops its own altcoin for conducting crime research, Republican presidential candidate Rand Paul believes Bitcoin should not be feared or regulated, and more top stories for April 24. Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, thereWhile it has provided regulatory clarity and legitimacy, it has also imposed significant compliance costs on businesses, leading some to leave the state. The Bitcoin Foundation considers splitting into two separate organizations, Igot rolls out its payment processing service to 40 countries and more top stories for April 7. According to a leakedThe long-term impact remains a subject of debate.

Are there alternative regulatory approaches to the BitLicense?

Yes, there are alternative regulatory approaches to the BitLicense.Some states have adopted a more flexible approach, such as issuing ""money transmitter"" licenses or creating regulatory sandboxes to encourage innovation.Others have chosen to wait and see how the industry develops before implementing specific regulations.

Where can I find more information about the BitLicense?

You can find more information about the BitLicense on the NYDFS website.This website provides access to the regulations themselves, as well as guidance and resources for businesses seeking to comply with the framework.

Conclusion

The events of April 2023, particularly the impending arrival of the BitLicense and the launch of the Bitcoin Fax service, offer a snapshot of the cryptocurrency industry at a pivotal moment. NYDFS Superintendant Benjamin Lawsky has suggested that the BitLicense bill will be finalized by the end of May; a registration-free online faxing service has launched taking payments perThe BitLicense, spearheaded by Benjamin Lawsky, represented a significant step towards regulatory clarity and legitimacy, although its implementation was not without its critics. With the help of Ben Lawsky the New York Department of Financial Services pushed forth its BitLicense. The measure of regulations and guidelines consists.Services like the Bitcoin Fax, allowed users to anonymously send faxes globally using cryptocurrency, highlight the innovative solutions that continue to emerge within the crypto ecosystem. Send a fax to anywhere from the web, pay with Bitcoin. 0 reviews. 3followersThe digest also included items about Interpol's crime research with altcoins and Rand Paul's view against regulation, which illustrates the complex challenges and opportunities that were present in the cryptocurrency world.

The Cryptocurrency space is complex, and with complexity comes challenges. APR 17 DIGEST: Rand Paul to Appear at Bitcoin Event, BitLicense Coming 'Very Soon' APR 16 DIGEST: Peter Todd Foresees Greater State Interference in Crypto, Stellar adopts SCP ProtocolHowever, the innovations that also occurred during this timeframe cannot be discounted.Innovation and regulation go hand in hand in the cryptocurrency space, and it should be interesting to see what other innovations become mainstream.

Want to stay updated on the latest cryptocurrency news and regulatory developments? New York State Department of Financial Services (NYDFS) Superintendent Benjamin Lawsky today released the final version of the BitLicense regulations, saying that his gut feeling was that digital currencies are here to stay.The BitLicense program to require digital currencies businesses in New York state to operate with a license andSubscribe to our newsletter for expert analysis and insights!