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Ben Lawsky: BitLicense Rules Won’t Apply to Software Devs

NYS Finance Superintendant Ben Lawsky clarified yesterday that the proposed regulations on virtual currencies, among which will be the requirement for certain parties to acquire a “BitLicense” to handle digital money, will not apply to software developers that make programs for interacting with it, according to Reuters. The proposed licensing regulation will also not apply to individual users of virtual currencies.

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Written by

Herman Yiu, CPA - Audit Taxation Advisory (212) 802-1428