New York’s financial regulatory department said on Tuesday that it would begin accepting “formal proposals and applications to operate virtual currency exchanges” in the state and that it would issue a regulatory framework for these businesses by the end of the second quarter. “Such proposals and applications represent the formal commencement of a regulatory process, and may be modified by the firm through discussions with NYDFS to help ensure that they include robust consumer, cyber security, and anti-money laundering protections,” the Department of Financial Services said in a press release.
New York State to Accept Bitcoin Exchange Applications, Issue Regulatory Framework in Q2
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.
This article originally appeared on Recode.net.
