Bittrex: The New York State Department of Financial Services has surpassed regulatory authority

Officials from the New York State Department of Financial Services (NYDFS) published an article stating that Bittrex's statement that BitLicense was rejected was untrue. In response, Bittrex responded that the US Department of Financial Services has surpassed its regulatory authority and is constantly changing rules and guidelines. In fact, although NYDFS claims to have alleged concerns, the agency has expressed its willingness to sign a regulatory agreement with Bittrex and will approve BitLicense for Bittrex in January 2019. But when Bittrex tried to negotiate with the proposed deal, NYDFS took a aggressive stance. Bittrex said the NYDFS's actions show that the agency is focused on punishment rather than consumer protection.