09 Aug '13, 7pm

How to Survive Regulation in the Bitcoin Space:

How to Survive Regulation in the Bitcoin Space:

Over the past six months, we have seen federal and state regulators place increasing attention on Bitcoin and similar financial innovations. Shortly after the FinCEN guidance in March, many companies believed that they could get up and running by having a solid Anti-Money Laundering (AML) policy and being Money Services Business (MSB) compliant on the federal level alone. However, it has become clear that companies who want to survive in this space must be MSB compliant on both the federal and state levels. This has created well-publicized challenges for Bitcoin startups, who are working to legitimize Bitcoin despite the hurdles brought on by unaccommodating banks, difficult-to-obtain regulatory partnerships, and the huge costs associated with compliance. Obtaining all of the necessary licenses to comply with MSB regulation on your own requires upwards of 18 months and mil...

Full article: http://bitcoinmagazine.com/coinsetter-ceo-how-to-survive-...

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