Spin, the dockless bike share company that announced they would be suddenly debuting their bikes in New York City on Monday, agreed to postpone operations in New York after getting a cease and desist letter from the Department of Transportation.

In a statement to reporters, a spokesperson from Spin thanked elected officials from Queens including Council Member Eric Ulrich and state Senator Jospeh Addabbo, Jr. for their support, but agreed to postpone what they said was a planned "pop-up demonstration" of their bikes in Manhattan, Brooklyn and Rockaway.

Spin, whose bikes are parked on sidewalks and unlocked using an app, also said the company looks forward to "planned, robust conversations with NYCDOT to help bring our innovative model of transportation to New York City. It reaffirms our commitment to working closely and collaboratively with governments."

Ulrich continued to blast the city for what he said was an action that protected a monopoly:

Spin's capitulation ends a brief saga that began when it was reported the company would put 300 bikes out on the streets of the city starting Monday, which then drew a cease and desist response from New York. DOT commissioner Polly Trottenberg said that while the DOT was looking into using dockless bike share technology in future bike share expansions, "this can’t be the Wild West, with ad hoc installations that haven’t received City approval and that don’t fully consider the future of bike sharing in New York."