Bitcoin debate reaching crescendo in NYC

The outcome of several events in New York City may offer a fresh reading on Bitcoin’s prospects for broader adoption among businesses as speculation continues to swirl around the digital currency’s future.

The New York State Department of Financial Services began two days of hearings today on Bitcoin and the potential issuance of “BitLicenses” to businesses that want to accept the digital currency. And the New York City Economic Development Corporation and Wells Fargo each are hosting their own discussions on Bitcoin.

“It certainly feels like there is a whirlwind of attention and discussion and debate about Bitcoin in the air in New York City,” wrote Fred Wilson, principal of Union Square Ventures, a venture capital firm that has invested in Bitcoin transaction service Coinbase.

The events come a day after federal prosecutors in New York indicted Charlie Shrem, CEO of BitInstant, a digital currency company, for conspiring to launder more than $1 million in Bitcoin tied to an online drug bazaar.

Three real estate companies have recently turned heads by embracing Bitcoin: brokerage Bond New York, rental listing site RentHop, and property management software provider Rentalutions.

Source: MarketWatch


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