N.Y. Regulator Presents Changes to 'BitLicense' Proposal

Benjamin M. Lawsky, New York state’s top financial regulator, outlined revisions to the state’s highly anticipated “BitLicense” proposal, providing the most detail yet on rules that, when finalized, could reshape the virtual currency industry. Although far from sweeping, the revised rules will address or eliminate many of the aspects that opponents had criticized for being vague or strict, including the types of companies that would be subject to the rules, Mr. Lawsky said in keynote remarks at the Bipartisan Policy Center in Washington.