CRACKDOWN: New York State Considers Licensing Bitcoin Traders

The Verge reports:

On Friday, the New York State Department of Financial Services announced it will be holding a public hearing on virtual currency regulation, specifically considering whether a certification called "BitLicense" might help manage the spread of online currencies like Bitcoin. The new license would require consumer protection services, as well as anti-money laundering requirements, designed to make the currency less useful in cases of fraud and criminal activity.[...]the Department of Finance put it, "it is in the long-term interest of the virtual currency industry to put in place appropriate guardrails that protect consumers, root out illegal activity, and safeguard our national security."

Goodbye anonymizing  programs, as I have warned before, they are going to be ruled money laundering tools and banned. Bitcoin is going to end up the most trackable financial instrument ever---which will make it pretty useless/

Current Bitcoin price: $589.00

http://www.economicpolicyjournal.com/2013/11/crackdown-new-york-state-considers.html