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Expert Analysis

Inside New York's Proposed Virtual Currency Regulation

Law360, New York (August 19, 2014, 10:31 AM EDT) -- On July 17, 2014, the New York State Department of Financial Services released its long-awaited proposed regulations aimed at governing virtual currency firms operating in New York or doing business with New York residents. This makes New York the first state to propose a regulatory framework specifically designed for virtual currencies. The proposed regulations were published in the New York State Register's July 23, 2014, edition, kicking off a 45-day public comment period. This article aims to provide an overview of both the proposed regulatory framework and key implications for virtual currency firms operating in New York....

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