New York regulator issues final virtual currency rules

By June 3, 2015Bitcoin Business

NEW YORK New York state issued on Wednesday its final rules for companies that operate in virtual currencies such as bitcoin, doing little to accommodate complaints that overly tight regulation could hamper a nascent industry.

Benjamin Lawsky, superintendent of financial services for the state of New York, said the new digital currency rules known as the "BitLicense" will focus on overseeing financial intermediaries only.

"There is a basic bargain that when a financial company is entrusted […]

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