Regulation

New York Regulator Considers Bitcoin Regulation License

(MarketWatch) The New York State Department of Financial Services said Thursday it will hold a public hearing on the regulation of virtual currencies like Bitcoin in the coming months.

The hearing will focus on the connection between money-transmission regulations and virtual currencies, as well as consider a specific license for virtual currencies, the regulator said in a notice of intent.

The possible BitLicense would have anti-money laundering and consumer protection requirements, and the hearing could address how and when such a license would be issued. The move comes after the regulator in August issued several subpoenas to Bitcoin companies and said it would examine regulation of virtual currencies.