New York State Proposes Bitcoin Regulatoins

HFA Padded
Mark Melin
Published on
Updated on

The State of New York took a major step towards legitimizing Bitcoin, proposing specific rules on how the digital payment transfer method should be regulated. Bitcoin to obtain a license with the goal of preventing fraud The rules, which resemble brokerage regulatory guidelines for knowing the customer and identifying potential acts of money laundering and fraud, will have a 45 day comment period starting after their official release on July 23. If adopted, the regulations would require those engaged in the business of managing Bitcoin transactions obtain a “BitLicense” with the goal of preventing fraud and protecting consumers. The regulations…


Login if you are HedgeFundAlpha Subscriber.

HFA Padded

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.