NY Considering Bitcoin Licenses for Small Businesses, Startups The 'Transitional BitLicense' would let certain virtual currency companies operate within a lighter regulatory framework.
By Reuters
This story originally appeared on Reuters
New York's Department of Financial Services is considering creating a special type of bitcoin license called a "Transitional BitLicense," which would let certain small businesses and start-ups operate within a more flexible framework, according to the department's Superintendent, Benjamin Lawsky.
Lawsky is due to make the announcement on Sunday night at the Money 20/20 conference in Las Vegas.
The initial comment period for the proposed BitLicense framework ended on Oct. 21, 2014.
The DFS is also designating a small group of specialized examiners to deal with startups and their license applications.
