{"id":288,"date":"2014-02-13T14:40:00","date_gmt":"2014-02-13T14:40:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/lawsky-says-new-york-will-adapt-money\/"},"modified":"2020-09-13T20:06:35","modified_gmt":"2020-09-13T18:06:35","slug":"lawsky-says-new-york-will-adapt-money","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/02\/lawsky-says-new-york-will-adapt-money.html","title":{"rendered":"Lawsky says New York will adapt money transfer rules for Bitcoin"},"content":{"rendered":"<p>\u00a0<\/p>\n<div style=\"text-align: justify;\">(<a href=\"http:\/\/www.bloomberg.com\/news\/2014-02-11\/lawsky-says-new-york-will-adapt-money-transfer-rules-for-bitcoin.html\">Bloomberg<\/a>) New York state will adapt existing rules on money transmission to license digital currency firms, financial services Superintendent <a style=\"font-family: Georgia, 'Times New Roman', serif;\" href=\"http:\/\/topics.bloomberg.com\/benjamin-lawsky\/\">Benjamin Lawsky<\/a> said in remarks prepared for a conference in Washington today.<\/div>\n<p><span style=\"text-align: justify;\">\u201c<em>We do not have to throw out all of our existing rules for <\/em><\/span><em style=\"text-align: justify;\">money transmitters or banks, which have generally served <\/em><em style=\"text-align: justify;\">consumers well when vigorously enforced,\u201d Lawsky said in a <\/em><em style=\"text-align: justify;\">statement delivered to a New America Foundation forum on <\/em><em style=\"text-align: justify;\">Bitcoin. \u201cIndeed, certain aspects of virtual currency could <\/em><em style=\"text-align: justify;\">dovetail with existing regulations.<\/em><span style=\"text-align: justify;\">\u201d<\/span><\/p>\n<div style=\"text-align: justify;\">\n<p>New York will \u201clikely have to proceed with issuing some form of specially tailored BitLicense that adapts those rules to the world of virtual currency,\u201d Lawsky said.<\/p>\n<\/div>\n<div style=\"text-align: justify;\">\n<p>The Treasury Department\u2019s Financial Crimes Enforcement Network said in March that virtual currency businesses may be regulated as money transmitters. Since states license such companies, the decision set off a scramble by states to decide how to treat the embryonic industry.<\/p>\n<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>\u00a0 (Bloomberg) New York state will adapt existing rules on money transmission to license digital currency firms, financial services Superintendent Benjamin Lawsky said in remarks prepared for a conference in Washington today. \u201cWe do not have to throw out all of our existing rules for money transmitters or banks, which have generally served consumers well [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,542,656],"tags":[764,1201,1307],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - 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