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22 Bitcoin Companies Issued Subpoena by New York Department of Financial Services

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Bitcoin New York Subpoena

22 Companies Called to New York to Answer Questions about Bitcoin

The New York State Department of Financial Services has subpoenaed 22 companies in an effort to better understand the uses and implications of alternative currency Bitcoin.

“If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country’s national security, but also the very existence of the virtual currency industry as a legitimate business enterprise,” said Benjamin M. Lawsky, Superintendent of Financial Services, in a release. “We believe that – for a number of reasons – putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry.”

Forbes published a list of 22 companies that were subpoenaed due to their involvement in Bitcoin.

  • BitInstant
  • BitPay
  • Coinabul
  • Coinbase Inc.
  • CoinLab
  • Coinsetter
  • Dwolla
  • eCoin Cashier
  • Payward, Inc.
  • TrustCash Holdings Inc.
  • ZipZap
  • Butterfly Labs
  • Andreesen Horowitz
  • Bitcoin Opportunity Fund
  • Boost VC Bitcoin Fund
  • Founders Fund
  • Google Ventures
  • Lightspeed Venture Partners
  • Tribeca Venture Partners
  • Tropos Funds
  • Union Square Ventures
  • Winklevoss Capital Management

Below is the full release providing context on the subpoena.

 

CC image by wallyg

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