As New York strives to become a hub for Web3 companies, a Manhattan attorney spoke of observing “competing general themes” with respect to some of the proposed legislation that would determine whether the state’s BitLicense is going to be renewed, and if so, on what terms.

“Recently, the initiatives are making the BitLicense more expensive and more time-consuming to get,” said Jacqueline Drohan, a partner in Drohan Lee, whom the New York State Bar Association considers its expert on virtual currency.