Every Important Person In Bitcoin Just Got Subpoenaed By New York’s Financial Regulator


See on Scoop.itten Hagen on Social Media

Declaring Bitcoin ‘a virtual Wild West for narcotraffickers and other criminals,’ the New York State Department of Financial Services is stepping into the sheriff’s boots.

Laurens ten Hagen‘s insight:

Things are getting serious for Bitcoin this month: a federal judgedeclared it real money, Bloomberggave it an experimental ticker(XBT), and New York’s financial regulator announced an interest in regulating it. Declaring Bitcoin “a virtual Wild West for narcotraffickers and other criminals,” the New York State Department of Financial Services is stepping into the sheriff’s boots.

 

“We believe that – for a number of reasons – putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,” said NYSDFS superintendent Benjamin Lawsky in a statement.

See on www.forbes.com



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