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I think Benjamin Lawsky read the wikipedia article on "Regulatory Capture" and took it as an instruction manual.

http://www.wsj.com/articles/benjamin-lawsky-to-step-down-as-...

ShapeShift is super vocal about this. They halted business in New York after the bitlicense was required.

Nice to see the application process finally stat moving though.

So an exchange who lost a significant amount of money in a hack recently is vocally opposed to a license that requires exchanges to perform security audits and to stay solvent?

https://news.ycombinator.com/item?id=11550765

That's probably the point.

Relevant:

Why US FinTech is a Joke http://www.coindesk.com/fintech-joke/