“State banking regulators are scrutinizing companies that let people buy and sell virtual currencies such as bitcoin, and some are looking at requiring costly licenses, according to people familiar with the efforts.  Texas is one of 48 states that require companies to obtain money-transmission licenses to operate. South Carolina and Montana don’t have such rules. New York bank regulators said they are also discussing the issues with virtual currency exchanges operating in the state.  State money-transmission licenses can be costly. In Texas, companies seeking a license must provide a surety bond of between $300,000 and $2 million, depending on transaction volume.”

http://online.wsj.com/article/SB10001424127887324682204578517604191541808.html

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