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With Caveats, Bitcoin Investors See End to Banking Woes
By Brian Orsak
printWith greater regulatory clarity, U.S. banks would embrace the digital currency companies they currently turn away due to compliance concerns, Bitcoin investors told New York State regulatory officials Tuesday. On the first day of a 2-day hearing, venture capitalists cautiously praised interest by the New York State Department of Financial Services (NYSDFS) in virtual currency platforms. In November, the agency disclosed that it may require some companies in the nascent industry to obtain a "BitLicense," a move that would follow the 2012 imposition of federal anti-money laundering (AML) rules. Representatives of the largest U.S. banks have quietly reached out to...
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