On September 22, 2015, the New York State Department of Financial Services (“NY DFS”) announced that it had issued the first BitLicense under its recently finalized virtual currency rules. Boston-based Circle Internet Financial announced that it will be able to use the BitLicense to offer mobile payment services involving bitcoins, in addition to US dollars. In announcing the issuance of the BitLicense, the NY DFS also noted that 25 BitLicense applications have been received to date.
Norton Rose Fulbright is publishing a global legal and regulatory guide to cryptocurrencies. The guide will be published in a series of chapters covering a range of legal and regulatory issues relating to cryptocurrencies. You can download the first chapter and register to receive subsequent chapters here.