New York Department of Financial Services Will Consider Proposals for Virtual Currency Exchange

more+
less-
more+
less-

The New York Department of Financial Services issuedpublic order indicating that it will begin to consider proposals and applications for the establishment of regulated virtual currency exchanges operating in New York. The public order marks the next phase of the DFS’ attempt to regulate virtual currency. The DFS previous held hearings on virtual currencies in January 2014 (see January 21, 2014 Alert). The DFS will accept formal proposals and applications to operate virtual currency exchanges. Approved applicants will ultimately be subject to new virtual currency regulations, which are expected to be proposed in the second quarter of this year.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Goodwin Procter LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×