Circle Internet Financial Limited became the first virtual currency business to be licensed under New York’s new BitLicense, the state’s Department of Financial Services said Sept. 22.
The BitLicense, which became the first in the nation to specifically regulate virtual currency when it was approved in June, has been criticized by Bitcoin advocates such as the group Coin Center. The critics, which include several Bitcoin companies that stopped doing business in New York because of the license, have said it creates regulatory hurdles that could stifle innovation in the still-emerging technology
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.