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Unregulated Bitcoin Could Soon Become Regulated in New York, California

Written by:
Aaron Goldstein
Published on:
Feb/04/2015
Unregulated Bitcoin Could Soon Become Regulated in New York, California

New York’s Department of Financial Services came out with a revised set of rules to regulate companies that buy, sell, hold, and transfer bitcoin and other virtual currencies.

The “Bit License’ regulations, as they are referred to, will become the first piece of legislation that regulates the anonymous digital currency that, with regulation, won’t be so anonymous any longer, at least not in New York State.

Both New York and California are working on Bitcoin regulations but have no current laws covering bitcoin or cryptocurrency specifically.

The news comes just as North America’s oldest established online sportsbook, Bookmaker.eu, launched its Bitcoin platform last week ahead of the Super Bowl, citing the anonymous aspect of the digital currency as one of the main reasons for embracing it.

"Our customers have been asking to use Bitcoin, and we’re happy to deliver this easy payment processing option," stated a spokesperson for Bookmaker.  "The fact that we’re bringing it in time for this exciting Super Bowl isjust an added bonus."

- Aaron Goldstein, Gambling911.com

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