New York’s Battle Over Bitcoin: Will Regulators or Entrepreneurs Shape Bitcoin’s Fate in the Empire State? – Hit & Run : Reason.com
The New York State Department of Financial Services (DFS) completed a hearing to consider how it would be best to regulate Bitcoin. The hearings included a number of important Bitcoin related business persons. One suggestion to outsource compliance was objected to by the Bitcoin people as introducing cost that Bitcoin was meant to avoid. Bitcoin has been used for money laundering in a couple prosecuted instances leading to the regulatory concerns.