NY Wants Bitcoin Rules To Foster Growth, Security

Law360, New York (January 28, 2014, 4:59 PM EST) -- New York's top financial regulator on Tuesday said that the state is currently developing first-of-its-kind rules for regulating virtual currencies like bitcoin so that the potentially explosive financial tool does not develop into a haven for terrorists, drug cartels and other criminals.

Benjamin Lawsky, New York's superintendent of financial services, said that any new rules that the states Department of Financial Services unveils in 2014 to regulate firms that work with virtual currencies like bitcoin will be intended to enhance regulators' role as referees in the...
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