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January 28. 2014 5:57PM

New Hampshire Business Newsreel

New York state to propose regulating virtual currencies

NEW YORK — New York will propose regulating virtual currency firms that operate in the state this year and may require them to obtain a “BitLicense,” banking regulator Benjamin Lawsky said on Tuesday.

The regulations would be aimed at preventing misconduct such as money laundering without derailing a fledgling technology, said Lawsky, the state’s superintendent of Financial Services.

Lawsky was speaking at the start of two days of hearings on online currencies organized by his agency, the New York Department of Financial Services.

The digital currency bitcoin, while gaining wider acceptance by businesses such as the Sacramento Kings basketball team and ecommerce site Overstock.com, has been coming under increased scrutiny by regulators.

The bitcoin is not backed by a government or central bank; its value fluctuates according to user demand.

The hearings in New York came the day after U.S. prosecutors charged a bitcoin executive, Charlie Shrem, with conspiring to commit money laundering.

Reuters
Concord chamber to host outlook lunch

CONCORD — The Greater Concord Chamber of Commerce is hosting the 2014 Legislative Outlook Luncheon for businesses and community leaders from 11:45 a.m. to 1:30 p.m. Feb. 21 at the Grappone Conference Center, 70 Constitution Ave.

The cost is $25 for chamber members and $35 for others, and includes lunch.

Guest speakers Charlie Arlinghaus of The Josiah Bartlett Center for Public Policy and Jeff McLynch of the New Hampshire Fiscal Policy Institute will offer their perspectives about what’s happening at the State House, from Medicaid to the minimum wage.

For more information or to register, contact the Greater Concord Chamber of Commerce at 224-2508, info@concordnhchamber.com or visit www.concordnhchamber.com to register online.



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