Rebit and Geneis Mining to Leave New York in Wake of New BitLicense – Bitcoints

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Published on August 15th, 2015 | by bitcoin

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Rebit and Geneis Mining to Leave New York in Wake of New BitLicense

Rebit and Geneis Mining to Leave New York in Wake of New BitLicenseThe latest Bitcoin startups that refused to apply to the controversial regulation are Philippine centered remittance service Rebit and mining specialist Genesis Mining.
Both Rebit’s parent company Satoshi Citadel Industries and Genesis Mining announced their departure from New York through blog posts on their respective websites.
Much like many of the other companies that left New York due to the BitLicense, both Rebit and Genesis Mining do so while explicitly protesting the BitLicense regulation.
Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.”

Genesis Mining is a Hong Kong based cloud mining business.
Users can buy mining contracts, hence essentially mining bitcoin without needing to physically own or operate mining hardware.

Source: Cointelegraph.com



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