14 Apr '15, 3pm

Beyond bitcoin and the blockchain to booming business

Beyond bitcoin and the blockchain to booming business

What’s more, the U.S. regulatory regime is warming to digital currency. New York’s Department of Financial Services has been engaged and is using its BitLicense to chart a path for regulating — and ensuring public trust in — the industry. The same attitude has been reflected by both FinCEN and the SEC as well. California recently lifted its “bitcoin ban” and has followed New York’s footsteps by proposing its own (albeit problematic) BitLicense . Since last spring, the Federal Election Committee has allowed limited donations in bitcoin to political candidates. And in response, the digital currency industry has been more than cooperative, working hard to protect consumers, abide by Anti-Money Laundering (AML) and Know Your Customer (KYC) laws, and iterate quickly following security snafus. We still await good federal legislation to replace the unwieldy state-by-state regulat...

Full article: http://radar.oreilly.com/2015/04/beyond-bitcoin-and-the-b...

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