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Sponsored by Gem … Problems State of Bitcoin Q1 2015

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Sponsored by Gem
… Problems Remain with BitLicense’s ‘Duplicative and
Redundant’ Requirements
82State of Bitcoin Q1 2015
1. Anti-money laundering (AML) requirements:
Virtual currency exchangers and
administrators are already required to
comply with federal AML regulations
2. State money transmission regulations are
already in place and are applicable to all
virtual currency businesses
“We should be mindful of this 'tax on innovation' that
regulations place on the startup sector and high
growth companies in general.”
Fred Wilson,
Union Square Ventures
Source: CoinDesk (http://www.coindesk.com/fred-wilson-on-the-proposed-bitlicense-regulations/)

Published in: Economy & Finance, Internet

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