Amends the financial services law to regulate business involving virtual currencies.
Amends the financial services law to regulate business involving virtual currencies. It mandates licensing for virtual currency business activities, outlines application requirements, and sets conditions for license approval. The bill also details operational requirements for licensees, including maintaining books and records, implementing anti-money laundering and cyber security programs, and ensuring customer protection. It specifies the superintendent's role in overseeing compliance and enforcing regulations.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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