New York's Financial Regulator Is Now Inspecting Bitcoin Startups
The New York State Department of Financial Services (NYDFS) has released new information about the status of its digital currency licensing regime.
Issued as part of a broader annual report to the state's governor and legislature, the NYDFS provided a brief description of its overall activities, emphasizing what it believes is the continued need for oversight on the industry due to the increased "speed of transactions" that blockchain technologies enable.
"DFS has begun examinations of these virtual currency companies, which, like other regulated financial services entities, are subject to periodic examinations by DFS."
http://www.coindesk.com/new-yorks-financial-regulator-now-inspecting-bitcoin-startups/
The Protection Racket called the New York State Department of Financial Services wants its tribute--its piece of the pie.