Yet another bitcoin startup left New York State and declined to comply with the BitLicense. BitFinex, the largest cryptocurrency trading platform in the U.S has followed the lead of Poloniex and Shapeshift, announcing the closure of their operations on their blog this week.

The BitFinex team wrote:

“Due to financial regulation changes in the State of New York, certain Bitfinex services are no longer available for New York Residents. Bitfinex is not applying for a BitLicense at this time. Accordingly, Bitfinex is modifying account privileges for New York Residents, effective August 10th, 2015.”

BitLicense requires any digital currency related startups and exchanges to pay US$5,000 in application fees, US$20,000 in legal fees.

http://cointelegraph.com/news/115084/bitfinex-exits-new-york-due-to-bitlicense