State of New York plans to hold Bitcoin hearings
The New York State Department of Financial Services issued a release in mid-November that it plans to hold a public hearing on virtual currency regulation in New York City “in the coming months at a time and location to be determined.” Topics up for discussion include licensing for Bitcoin businesses that are deemed compliant with a potential whole new set of financial rules. The release suggests those news laws would include anti-money laundering regulations and consumer protection requirements. On the agenda also will be a review of money transmission regulations and how effective they....
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The New York State Department of Financial Services (NYDFS) will hold public hearings on the regulation of digital currencies on 28th and 29th January in New York City. It will also discuss potentially issuing something it calls "BitLicenses" as a regulatory requirement specific to businesses in the "virtual" currency field. Financial Services Superintendent Benjamin M. Lawsky issued a notice yesterday inviting members of the press and public to attend the hearings, which will include witnesses presenting before an inquiry as well as panel discussions. The notice warned that space would be....
This is perhaps New York's biggest ever news week when it comes to bitcoin. Some of it is positive, and some negative. This morning sees the beginning of a two-day hearing on bitcoin from the state's financial regulator. Elsewhere in the city, luminaries will meet at a breakfast hosted by the Economic Development Forum, to talk about the future of the currency. And then, there's Charlie Shrem. New York has been an uncertain place for bitcoin-based businesses. Although regulations at the federal level have moved forward slightly, things are still inconsistent and unclear. And New York is....
NY State Dept. of Financial Services Holding Hearings on Regulation of Virtual Currencies This Month
It seems like governments everywhere are interested in talking about bitcoin. New York state is no exception, with an announcement today indicating that hearings will be held on virtual currencies later this month. Benjamin M. Lawsky - Superintendent of Financial Services at the New York State Department of Financial Services (NYDFS) - has pegged the dates of the public hearings on both January 28th and 29th (Tuesday and Wednesday). The hearings are reportedly centered around the regulation of virtual currencies, the most popular of which being bitcoin, of course. This "fact-finding....
The dust has settled from the virtual currency hearings in New York City this week. We saw a mixture of speakers, including law enforcement agents warning of digital currencies' many potential dangers, VCs getting hot under the collar over the regulation debate, regulators musing about whether they should license miners or not, and one vehemently anti-bitcoin academic. New York state has almost 20 million people - around 6% of the US population - and houses the heart of its financial services industry. It was a good place for the first state-level inquiry into the regulation of....
The New York State Department of Financial Services (NYDFS) has announced the witness list for its upcoming hearings on virtual currencies to be held on 28th and 29th January in New York City. Notable names from the virtual currency community that will be participating include principals of Winklevoss Capital Management, Cameron and Tyler Winklevoss. Jeremy Allaire, the CEO and founder of Circle. Charles Lee, the founder of Litecoin; and Fred Ehrsam, co-founder of Coinbase. Speaking to law enforcement concerns regarding bitcoin will be District Attorney of New York County Cyrus R. Vance....