NY Regulator Issues 1st Ever License To Bitcoin Firm

Law360, New York (September 22, 2015, 12:13 PM EDT) -- New York’s financial regulator on Tuesday issued its first-ever license to a digital currency firm, giving the company the right to operate in the state and subjecting it to strict capital, consumer protection and anti-money laundering requirements.

Circle Internet Financial Ltd., a mobile payments firm that can transfer and exchange Bitcoin, the largest and most advanced virtual currency, received the first BitLicense from the New York Department of Financial Services. The BitLicense is the first of its kind operating license for virtual currency firms, bringing with...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.