New York Department of Finance receives 22 virtual currency business applications

The New York State Department of Financial Services (NYDFS) shows that it has received 22 applications so far from companies seeking to engage in virtual currency businesses in the United States .

     The announcement was issued as the deadline for corporate applications approaches, which of course does not include corporate bank application charters.

     Matt Anderson, NYDFS's deputy director for public affairs, said the agency concluded the document had a "significant interest" in bitcoin operations, a conclusion reached after months of public debate earlier this year .

     Anderson also highlighted criticism from the bitcoin and blockchain community, as well as media, saying the agency believes bitcoin business certification will eventually lead to widespread adoption of the technology by businesses and consumers.

Anderson said:

“Long term, we think it will be useful. I think having strong consumer protections and strong regulation will entice companies that want to do this business to continue to file.”

Bitcoin businesses that have suspended services in the New York area will be able to reapply at a later date as long as they comply with licensing standards.