Prosecutors Want NY To License Virtual Currency Exchangers

Law360, New York (January 29, 2014, 4:58 PM EST) -- Top law enforcement officials on Wednesday told New York state regulators developing a set of rules for virtual currency firms that all digital currency exchangers should be forced to obtain money transmitter licenses as a way to keep those currencies from being a haven for criminals and terrorists.

Speaking on the second day of hearings before the New York Department of Financial Services, Manhattan District Attorney Cyrus R. Vance Jr. said that the exchanges, where dollars are traded for virtual currencies like Bitcoin, could serve as...
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