Quick TakeBitLicense went into effect on June 2015 and immediately generated criticism for being too invasive, cumbersome, and expensive to obtain; especially for smaller companiesOn top of the $5,000 non-refundable application fee, the whole process costs companies up to $100,000In 2018, NYDFS granted six BitLicenses; more than the sum of the previous three years and in 2019, it already granted eight