"These regulations are going to make some savvy traders a lot of money. Because there is a premium placed on privacy, the 'clean' coins trading on exchanges with BitLicenses will trade at a discount to coins trading on exchanges that operate in more laissez-faire jurisdictions. Traders with the ability and risk appetite will be able to arbitrage the price differential."
"The best example would be citizens of New York who wish to anonymously buy Bitcoin. Buyers will need to pay an increased fee to a trader who does not possess a BitLicense. The fee will cover his or her costs of acquiring coins outside of New York, and extra profit for the trader compensating him or her for the extra risks taken."