Affidavit of Jim Harper in support of a lawsuit challenging the New York Department of Financial Services’ “BitLicense” regulations.
On March 3, 2017 Competitive Enterprise Institute Vice President Jim Harper filed an affidavit in support of a lawsuit challenging the New York Department of Financial Services’ “BitLicense” regulations. The lawsuit was filed by New York-based entrepreneur and software developer Theo Chino.
BitLicense is a special registration requirement applying to Bitcoin-based businesses, which the New York Department of Financial Services (NYDFS) issued in June 2015. In November 2016, Chino filed his petition, known as an Article 78 action, with the Supreme Court of New York. An Article 78 proceeding in New York allows aggrieved parties to challenge regulatory actions, including actions taken that are beyond the jurisdiction of the regulatory body or officer. In this case, Chino claims that the NYDFS was never given authority by the legislature to regulate Bitcoin.
Harper, as noted in his affidavit, previously served as Global Policy Counsel for the Bitcoin Foundation.