Proposed bitcoin regulations 'unworkable' in current form

NYDFS proposes bitcoin regulations that experts say go too far


Proposed bitcoin regulations put forward by the New York Department of Financial Services (NYDFS) are not workable in their current form, one legal expert warns. The proposed regulations, released this month, set out steps as to how crypto-currency businesses would be licensed to operate within the state of New York and regulated thereafter. Licensed bitcoin businesses would have to maintain 10 years' worth of transaction data, including personal identifying information of all parties to a tr