Jaron Lukasiewicz — whose Bitcoin exchange, Coinsetter, fully launched this summer after two years of work — had some strong words earlier this week regarding New York’s BitLicense proposal.
“It just doesn’t fit with the technology, and it’s impossible” to comply with the proposed disclosure rules, he told Yahoo! News. “I think it’s also a complete invasion of privacy.”
We had a chance to speak with Lukasiewicz over the weekend about Coinsetter, regulations and New York City in general.
Cointelegraph: Coinsetter is fully launched as of July 24. How have the last few weeks since leaving beta been for you?
Jaron Lukasiewicz: This has been one of the most exciting times of my career now that Coinsetter has launched.
We are seeing growth in active users and trading volume every week, and most importantly, our customers have expressed a very positive experience with our exchange.
CT: Tell us about the journey to this point so far. You founded Coinsetter in late 2012, when one bitcoin was worth, what, 8 dollars?
JL: Bitcoin was at $7 when I started the company. Anyone who was active in the space at that time will remember that things were very different back then. My friends laughed at me for starting a “trading platform for play money.” They’re definitely not laughing anymore, and we now offer a leading, institutional-class exchange in one of the most exciting parts of the tech industry.
CT: The focus of the company has changed since those early days. What are some of the challenges to providing Bitcoin liquidity to merchants or ATMs that you did not foresee?
JL: The international SWIFT wire network is the Bitcoin industry’s biggest pain point. Anyone sending funds through slow bank transfer networks will know about the working capital complexities it creates.
CT: How do you feel about the NYDFS’s proposed regulations for so-called BitLicenses?
JL: I hope that the final regulations put in place are in line with the capabilities of Bitcoin technology. We want to be able to fully comply with the regulations, and it was not possible to comply some of the proposed regulations from a technology perspective.
CT: Pending regulation, of course, would you recommend New York as a destination for Bitcoin entrepreneurs?
JL: Yes. New York City is the place to be for Bitcoin.
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