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Revised BitLicense Regulatory Framework

In accordance with the New York State Administrative Procedures Act (SAPA), the revised proposed DFS rules for virtual currency businesses have been published in the New York State Register's February 25, 2015 edition, which begins a 30-day public comment period.  To view a copy of these revised proposed rules please visit here. These revised proposed rules for DFS virtual currency businesses reflect comments received by the Department pursuant to the SAPA process in response to the proposed rules published in the July 23, 2014 edition of the New York State Register.  The public comments received during that initial 90-day comment period are available on our website.

In order to submit a comment to these revised proposed regulations you may either email your comment to or mail your comment to New York State Department of Financial Services, Office of the General Counsel, 1 State Street, New York, NY 10004.  After this 30-day public comment period, the rules may be subject to additional review and revision based on that public feedback before DFS finalizes them.  Only comments formally submitted pursuant to the SAPA process will be considered in connection with the promulgation of the proposed regulations.

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