29 Jul '14, 6pm

"Proposed Rules Expose Rifts Among Bitcoin Enthusiasts" by SYDNEY EMBER via NYT

Photo Bitcoin faces a proposal for new virtual currency regulations in New York. Credit Lucy Nicholson/Reuters A new front has opened in the battle over Bitcoin. Since New York became the first state to propose virtual currency regulations two weeks ago, Bitcoin enthusiasts have had a mixed reaction on whether the new rules will help legitimize the virtual currency or whether they will thwart innovation and threaten the very freedom that Bitcoin was meant to promote. The draft legislation has also exposed a division among virtual currency companies with enough resources to comply with the regulations and those without. On Tuesday, some Bitcoin supporters are planning to send an open letter to Benjamin M. Lawsky, New York State’s top financial regulator, requesting more time to comment on his proposed legislation. “Many of us are individuals or small start-ups operating on ...

Full article: http://dealbook.nytimes.com/2014/07/29/proposed-rules-exp...

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