After New York, Digital Currency Companies Wait for Chorus or Cacophony from Other States

By Kira Zalan and Lisa Miller

Love or hate New York's plans to shield Bitcoin and its competitors from financial crooks, one thing is certain: the proposal is only the first of dozens that will shape the industry. Last month, the burgeoning sector of tech-savvy entrepreneurs and venture capitalists got an initial look at the state's planned anti-money laundering (AML) rules for digital currency companies that want to obtain so-called "BitLicenses." The licenses would require the businesses to retain identifying and transactional data on their clients, among other controls. The proposal, which would additionally mandate that licensees annually assess their risks and more closely scrutinize foreign...