Three Largest Bitcoin Exchanges in China Weigh in on New York State Proposed Cryptocurrency Regulations

The three biggest bitcoin exchanges in China have weighed in on a critical regulatory proposal on the other side of the planet, submitting comments on the New York Department of Financial Services’ “BitLicense” proposal, in a gesture that shows just how far Benjamin Lawsky‘s regulatory arm could reach.

Bobby Lee, Lin Li, and Mingxing Xu, the CEOs of, respectively, BTC China, Huobi, and OKCoin, submitted a joint letter on Wednesday to the New York Department of Financial Services, a copy of which was given to MoneyBeat. The department is in the middle of a 45-day open comment period. All three think the outcome of Lawsky’s efforts will be felt across the globe, and therefore wanted to add their voice to the process.

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