Witness List Revealed for New York Virtual Currency Hearings
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....
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The New York Department of Financial Services (NYDFS) has released its long-anticipated list of proposed rules and regulations that will be required for New York-based bitcoin businesses. The announcement came via a Twitter post from Benjamin M Lawsky, New York State's first Superintendent of Financial Services, who oversaw two regulatory hearings with digital currency leaders in January of this year. Notably, the document states that bitcoin businesses that receive, transmit, store or convert virtual currency for customers; buy and sell virtual currency as a customer business; control,....
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....
Let's get the facts straight. At the New York hearings Division of Financial Service conference on Virtual Currencies held this last week we heard from a wide variety of characters who are in, worked with, or have taken acritical viewof the currency in the media. The general agreement seems to reflect that the hearings were useful and positive. Most agreed that the task of bringing balance of a thoughtful approach to the subject matter will help untangle the complexities of digital currency. Both business and government seemed eager create a framework of some legal regulation to assist its....
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....