12 Aug '13, 12pm

New York regulator subpoenas Bitcoin merchants regarding business practices

New York regulator subpoenas Bitcoin merchants regarding business practices

The Wall Street Journal's Robin Sidel says New York Department of Financial Services has subpoenaed about two dozen Bitcoin merchants as part of an inquiry into their compliance with the state's finance statutes. Sidel says firms run by Marc Andreessen and the Winklevoss Twins received the notices. Agency chief Benjamin Lawsky says he's considering setting new guidelines for money transmission laws specifically aimed at Bitcoin commerce. We recently discussed the effect increased scrutiny from regulators could have on Bitcoin, and why it could end up becoming a victim of its own legitimacy . So this seems likely to compound the issue. Click here to read the full story on WSJ.com » SEE ALSO: An Interview With One Of Bitcoin's Founding Developers

Full article: http://www.businessinsider.com/regulator-subpoenas-bitcoi...

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Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive U.S. stock quotes reflect trading i...

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Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive U.S. stock quotes reflect trading i...

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