“State regulators are warning virtual-currency exchanges and other companies that deal with bitcoin that they could be closed down if their activities run afoul of state money-transmission laws.  According to people familiar with the situation, banking regulators in California, New York and Virginia in recent weeks have issued letters telling the companies that they need to follow the state rules or prove that the rules don’t apply to them. Similar actions are expected from other states in coming weeks and months, according to people familiar with the matter.  States typically require companies to put up a bond that could run as high as several million dollars.”

http://online.wsj.com/article/SB10001424127887323998604578565961039879492.html

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