“Declaring Bitcoin ‘a virtual Wild West for narcotraffickers and other criminals,’ the New York State Department of Financial Services is stepping into the sheriff’s boots. ‘We believe that – for a number of reasons – putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,’ said NYSDFS superintendent Benjamin Lawsky in a statement. They sent letters to the major Bitcoin players asking them to hand over information regarding their money laundering controls, consumer protection practices, source of funding, pitch books, and investment strategies.”

http://www.forbes.com/sites/kashmirhill/2013/08/12/every-important-person-in-bitcoin-just-got-subpoenaed-by-new-yorks-financial-regulator/

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy