By Stuart Gittleman, Compliance Complete

NEW YORK, July 23, 2014 (Thomson Reuters Accelus) - The New York State Department of Financial Services (DFS) is seeking public comment on a proposed “BitLicense” regulatory framework for New York virtual currency businesses, DFS Superintendent Benjamin M. Lawsky said Thursday.

The proposed framework – the first on a state-wide basis in the country – will require licensees to have strong compliance and supervisory policies and procedures. (more…)