NYDFS Superintendent Linda Lacewell said she decided to review the regulator's landmark virtual currency license in light of its impending 5-year anniversary.
The regulator hopes the new three-strike rule will encourage BitLicense applicants to ensure they've taken its feedback on board.
As the BitLicense turns five, the issuing watchdog looks to lure blockchain startups to New York, while a major brokerage firm is pivoting to crypto.
While some exchanges left New York in the wake of its implementing the BitLicense, others say the regulatory regime have helped build market share and revenue.
A list of all New York Department of Financial Service BitLicense and limited purpose trust charter recipients.