York States top financial regulator has granted the first license to a Bitcoin exchange, allowing it to open legally to customers across the country. More recently, a company in San Francisco, Coinbase, said it was opening the first Bitcoin exchange to have all the necessary licenses in the United States. Makes 'BitLicense' Official, Focus Moves to Who's Next". Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. "NY regulator issues first license for bitcoin company". Changes should be tested by somebody other than the developer who wrote the code. While regulators debate the pros and cons of bitcoins, this volatile digital currency inspires the question: What makes money, money? "update 2-New York regulator issues final virtual currency rules". Many early Bitcoin users, who were drawn to the virtual currency because of its independence from government, have opposed efforts to win regulatory approval for the technology.
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The companys chief operating officer, Andrew Chang, came to itBit from Google. "DFS grants virtual currency license TO bitflyer USA, INC". Earlier this week, an enforcement arm of the Treasury Department fined a virtual currency company, Ripple Labs, 700,000 and said it willfully violated the bank secrecy act and failed to report suspicious activity. Unit tests can be compiled and run (assuming they weren't disabled in configure) with: make check. "New York lays out requirements for a 'BitLicense. Further details on running and extending unit tests can be found in /src/test/. New York State Register on July 23, beginning a 45-day comment period. Retrieved July 19, 2014.
Japan Issues Licenses for 11 Bitcoin Exchanges - CoinDesk