[2016-10-31] ET: The dream is gone: Here's how NY's bitcoin hub dreams fade

[polynesia]

The dream is gone: Here's how New York's bitcoin hub dreams fade

http://economictimes.indiatimes.com/magazines/panache/the-dream-is-gone-heres-how-new-yorks-bitcoin-hub-dreams-fade/articleshow/55155744.cms

New York's financial regulator had sights set on becoming a global hub for innovations like bitcoin when it adopted trailblazing virtual currency rules last year. But the state lost that momentum when the agency's chief left, putting a licensing process in limbo and allowing rivals to catch up.

Since June 2015, New York has required virtual currency firms doing business there to get a "BitLicense" to hold customer funds and exchange virtual coins for dollars and other regular currencies.