[2014-07-23] Bitcoin Regulation: Lawsky Goes on BBC

[ganabb]

http://www.forexnews.com/blog/2014/07/22/bitcoin-regulation-lawsky-goes-bbc/

Ben Lawsky, the Superintendent of Financial Services at the New York State Department went on BBC to defend the proposed NY state regulatory framework. Lawsky told reporters that ”virtual currencies hold a lot of promise” and may change banking and finance in the future. He again used the MtGox fiasco as part of the reason for introducing new rules. When pressed that increased scrutiny by NY will just lead to bitcoin firms choosing another US state or another country, Lawsky countered with saying that ”as virtual currencies continue to grow and thrive you will inevitably see regulation across the world.” The Superintendent also tried to make the case that New York and its regulation may be preferred by customers.

[cr1776]

Thank goodness for competition among jurisdictions.  From one perspective he is right when he says "New York and its regulation may be preferred by customers" because the rest of the statement is that they may NOT be preferred by customers and the beauty of it is that each person will be free to make that decision whether it is a good one or a bad one.

[LiteCoinGuy]

http://www.bbc.co.uk/programmes/p023dgg1