New York Regulators Want To Attract Legitimate Bitcoin Business

Bitcoin continues to come under fire from law enforcement agencies as high profile cases against Silk Road and Liberty Reserve (illicit markets that used Bitcoin) proceed, but some New York regulators are showing that they are more interested in creating a healthy business environment than clamping down on virtual currencies. Bitcoin necessitates regulatory innovation: Lawsky “While I don’t think anyone would call virtual currency a systemic risk anytime soon it does represent a good example of the necessity innovation not only in the technological sphere but also in the financial regulatory sphere,” said Benjamin M. Lawsky, Superintendent of Financial Services…