“State financial regulators have received few applications for licensing Bitcoin businesses even as they’ve handled many inquiries about them, according to David Cotney, the commissioner of banks in Massachusetts. Money transmitters, which include Western Union Co. and MoneyGram International Inc., require licenses in most states. ‘We are looking at one application in our state,’ Cotney said at a briefing in Washington organized by the Conference of State Banking Supervisors. ‘Other states are looking at similar numbers.’ Shane Deal, deputy commissioner of financial institutions at the Minnesota Department of Commerce, said his agency has fielded ‘lots of inquiries’.”
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