Today begins the regulatory hearing by New York Department of Financial Services to consider a Bitcoin/crypto licensing framework.
I can see major momentum manifesting either direction based on the tone of the hearing–I imagine a lot of us are watching.
EDIT: Jeremy Liu of Lightspeed is giving an excellent introductory speech. He has a great accent, too.
EDIT2: This hearing is extremely bullish so far. Lawsky is phrasing things perfectly and is clearly very positive towards Bitcoin.
EDIT3: Just closed my short at a small loss. Very disappointing, but I accept it. It’s my just desserts for being a pig instead of a bull or bear and not taking profits between 750 and 760 like I had planned. Reopened long immediately, I’m very bullish on the hearing and I expect it to be impactful.
EDIT4: Lawsky is going off pretty harshly on AML provisions.
EDIT5: Jeremy Liu is my new favorite person. “How can we control Silk Road?” – Lawsky “It appears you have.” – Liu
EDIT6: I think I may have chickened out at the same time as everyone else, which is unfortunate to say the least.