Benjamin Lawsky, head of the Department of Financial Services, said his agency is trying to protect consumers and prevent money laundering without stifling innovation in establishing "BitLicenses" for firms involved in receiving, transmitting and storing virtual currency.
July 18, 2014 at 12:00 AM
1 minute read
ALBANY – New York regulators on Thursday proposed establishing rules for firms involved in receiving, transmitting and storing virtual currency, as well as retail conversions.
The proposal by the Department of Financial Services would establish a so-called “BitLicense.”
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