The New York State Department of Financial Services (NYDFS) will hold public hearings on the regulation of digital currencies on 28th and 29th January in New York City.
It will also discuss potentially issuing something it calls "BitLicenses" as a regulatory requirement specific to businesses in the "virtual" currency field.
Financial Services Superintendent Benjamin M. Lawsky issued a notice yesterday inviting members of the press and public to attend the hearings, which will include witnesses presenting before an inquiry as well as panel discussions.
The notice warned that space would be limited, and promised "a broad cross-section of industry participants, investors, academics and other individuals involved in the virtual currency industry."
As the United States' predominant financial services and trading hub, New York State is bound to receive high-profile attention and set the tone for future discussions with whatever findings it reaches.
The outcome of the Senate hearings was seen as positive for digital currencies and bitcoin in particular. Senator Jerry Moran turned to Reddit to hear users' opinions, saying:
Prominent members of the bitcoin and digital currency community testified as witnesses, steering the discussion away from the usual crime-and-security cliches and back towards the potential for financial innovation. Stand-out witnesses included BitPay CEO Tony Gallippi and the Bitcoin Foundation's general counsel Patrick Murck.
The NYDFS's statement in November, however, still listed several examples of bitcoin-related criminal activity before mentioning potential positives. While accepting some form of regulation as potentially inevitable, the digital currency community will again have its collective fingers crossed for further level-headed, conversation-setting testimonies.
US Law image via Shutterstock
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