New York banking regulator kicks off bitcoin hearings

Utah Software Engineer Mints Physical Bitcoins28 Jan 2014 / MarketWatch – Bitcoin enthusiasts from all corners of the Internet are descending on New York for a slew of events related to virtual currencies. Tuesday’s events include a breakfast discussion held by the New York City Economic Development Corporation, a hearing on virtual currencies convened by New York State Department of Financial Services, and a panel hosted by Wells Fargo.

The biggest event is likely the virtual-currencies hearing held by New York’s top banking regulator. The hearing comes a day after the Justice Department announced the arrest of bitcoin entrepreneur Charlie Shrem for his alleged involvement in a scheme linked to the bitcoin-only drug market Silk Road, which was seized last year. Shrem is a high-profile member of the bitcoin community and frequent speaker, who serves as the vice chairman of the Bitcoin Foundation and is the chief executive of BitInstant. His company’s investors include Cameron and Tyler Winklevoss, both of whom are scheduled to speak at the hearing on Tuesday. Related: Bitcoin entrepreneur’s arrest highlights digital currency’s underworld link

In light of Monday’s news, the investors on the hearing’s first panel are likely to emphasize bitcoin’s above-board applications, such as in payments and remittances. The second panel on Tuesday will focus on virtual currencies and regulation.

Here’s a link to the complete schedule for the two-day hearing and an excerpt of Tuesday’s speakers:….. Read more

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