The New York DFS has released its long-anticipated list of required BitLicense rules and regulations that apply to any New York-based bitcoin businesses transmitting; securing, storing, holding; or buying and selling Virtual Currency on behalf of others; converting or exchanging other value into Virtual Currency; or controlling, administering, or issuing a Virtual Currency. Though such cumbersome requirements could seem daunting to small bitcoin startups, New York Superintendent Ben Lawsky was careful to say, “We recognize that — as the first state to put forward specially tailored rules for virtual currency firms — continued public feedback will be an important part of finalizing this regulatory framework. We look forward to carefully and th
Leave a Reply