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NY regulator issues first license for bitcoin company

September 22, 2015

Via: itCurated
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New York state’s financial services regulator has granted a “BitLicense,” its first, to a virtual currency, the agency announced on Tuesday.

The license went to Circle Internet Financial, a Boston-based bitcoin startup, the New York Department of Financial Services said.

The “BitLicense” is based on the first set of guidelines created by a state specifically for companies that operate in virtual currencies such as bitcoin, which is created and exchanged independent of banks.

The regulator issued the rules in June. They are aimed at protecting consumers, preventing money laundering and boosting cyber-security.