•  Regulation
•  NewYork
•  BitLicense
•  Bitcoin
•  RegulatoryAbitrage

WE THE PEOPLE OF NEW YORK DETERMINED

• to pioneer noble advancement of BitLicence theory and regulation, whereas it is essential to safeguard virtual currency and its potential to galvanize international, economic and social advancement of all peoples, and

• to ensure clarity, principally New York’s BitLicence being the preeminent institution with mandate of ensuring that virtual currency manipulation (of any sort) shall not burden the common global interest of humanity, and that human rights are protected in the jurisdiction of New York for all peoples

AND FOR THESE ENDS

• to save succeeding generations from financial fraud and corruption, which in our lifetime has brought untold sorrow to humanity, and

• to reaffirm New York’s faith in fundamental human rights, in the dignity and worth of the human person, in the equal rights of men and women and of nations large and small, and

• to establish conditions under which justice and respect for the obligations arising from BitLicence regulation and other sources of financial services law can be maintained, and

• to promote larger social progress by leading global standards, given that New York remains the center of technological innovation and forward-looking virtual currency regulation

HAVE RESOLVED TO COMBINE OUR EFFORTS TO ACCOMPLISH THESE AIMS

Now, therefore this UNIVERSAL BITLICENSE DECLARATION ON VIRTUAL CURRENCY & HUMAN RIGHTS as the common crypto standard of achievement for all peoples and all nations, keeping this Declaration constantly in mind, shall strive to promote respect for human rights and personal freedoms by progressive measures, national and international, to secure their universal and effective recognition and observance of New York-based companies accountable to a universal BitLicense standard of virtual currency regulation across all global territories of business, protecting all peoples and all nations.

Article One

• Whereas disregard and contempt for human rights have resulted in failed financial frameworks that have outraged the conscience of mankind, and

• Whereas the foundational vision of BitLicense theory imagines a world in which human beings shall enjoy safe, reliable and regulated virtual currency tools and financial products, now proclaimed as the highest aspiration of the common people,

Article Two

• Whereas ethical stewardship of virtual currency is inherent to the BitLicence mandate, the invention of blockchain, and virtual currency aimed to secure the equal and inalienable rights of all as foundation to financial freedom and economic prosperity, especially in the developing economies, and

• BitLicense members pledged themselves to achieve, in cooperation with the state of New York, the promotion of universal respect for and observance of international human rights fundamental to the integrity of the BitLicense’s virtual currency regulation.

• Whereas New York reaffirms faith in the BitLicense’s foundational themes and the general concept of human right protection. The dignity and worth of the human person and the equal rights of men and women are part of New York BitLicense protections and standards which correlates to noble “public-spiritedness” virtual currency regulation with exponential social progress of humanity.

Article Three

The Purposes of this Declaration are:

• To maintain the protection of BitLicense virtual currency standards, implying any New York- based group or person has no right to engage in “loophole” business activities in global markets out of New York, or to perform any act aimed at bypassing BitLicense virtual currency regulation, and

• To take effective collective measures to remove inconsistencies and prevent the suppression of human rights or other breaches of BitLicense regulations of virtual currency, and to bring about conformity with the principles of justice and international human rights laws, adjusting or settling international disputes or situations which might lead to a breach of New York BitLicense law;

• To develop friendly relations among nations based on respect for the principle of equal rights and self-determination of peoples, while executing appropriate measures to close KYC/AML loopholes by strengthen universal virtual currency regulation of New York firms operating in global emerging markets;

• To achieve international co-operation in solving international virtual currency problems of an economic, social, cultural, or humanitarian nature, and in promoting and encouraging respect for human rights and fundamental freedoms for all without distinction as to race, sex, language, or religion; and

• To offer New York as centre jurisdiction and the BitLicense as universal to harmonizing smart virtual currency actions of nations in the attainment of these common ends.

Article Four

New York BitLicensees (members), in pursuit of the Purposes stated in Article One, shall act in accordance with the following Principles:

• All Members, in order to ensure to all of them the rights and benefits resulting from BitLicense membership, shall fulfill the obligations assumed by them in accordance with this Declaration, and

• All Members shall immediately settle their international virtual currency inconsistencies by peaceful means in such a manner that international law and justice are not endangered while meeting this Declaration and overall BitLicense compliance, and

• All Members shall refrain in their international relations from the violation of human rights or abuse of virtual currency manipulation by leveraging territorial loopholes (e.g. Africa) and/or inconsistent jurisdictional integrity and enforcement (e.g. Europe), nor willfully employ political naivete of any state (e.g. New York), or in any other manner inconsistent with the Purposes of this Declaration, and

• Continued membership is contingent on the requirement that BitLicense Members based in New York act in accordance with these Principles so far as may be necessary for the promotion of universal respect for and observance of human rights and fundamental virtual currency regulation, and finally

• Nothing in this Declaration may be interpreted as implying for any State, group or person any right to engage in any activity or to perform any act aimed at the destruction of human rights or degradation of the BitLicense’s virtual currency statute or mandates set forth in this Declaration.