Readers of this blog will know that we have been following the recent legal developments relating to bitcoin and other virtual currency systems [also here and here]. Yesterday, in a significant development reflecting the general maturation of virtual currencies as a recognized payment system, Benjamin M. Lawsky, Superintendent of
Bitlicense
Proposed “Bitlicense” Regulations Published to the New York Register
By Jeffrey Neuburger on
Today’s New York State Register includes a Notice of Proposed Rule Making from the New York State Department of Financial Services (the “NYSDFS”) regarding the regulation of virtual currency (“Regulation of the Conduct of Virtual Currency Businesses,” No. DFS-29-14-00015-P). The proposed rule calls for the creation of the…