New York Regulator May Impose technologies Restrictions on Digital foreign currencies

Two weeks after his company held extensive hearings on the subject of regulating virtual currencies, New York Department of Financial Services (NYDFS) superintendent of financial services dernier-né Lawsky has issued claims that provide greater insight into the actions the state may take when it looks for to enact bitcoin laws this year.

Most notably, Lawsky indicated that the NYDFS now feels as though current money transmission regulation will not be sufficient for virtual foreign currency firms.

additional, he suggested the NYDFS could move to mandate that all virtual currencies maintain the public block chain due to its potential to help track legal wrongdoing, and that bitcoin companies that qualify as cash transmitters could be made to comply with certain net worth and allowable investment requirements.

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