http://america.aljazeera.com/articles/2014/7/21/new-york-crafts-bitcoinlicenses.htmlThe regulations, published by the New York Department of Financial Services on Thursday, would require the kind of record-keeping, cybersecurity and anti-money-laundering systems that major banks typically implement, potentially protecting the fledgling community against the kind of fraud that brought about liquidity disasters in the past.
But the regulations also would entail what bitcoin backers characterize as onerous and innovation-killing conditions, like fingerprinting and capital requirements, that would apply to all bitcoin businesses, whether they are major repositories with millions of dollars worth of deposits or small exchanges converting the currency into dollars.
