- New York's financial regulator had sights set on becoming a global hub for bitcoin (COIN, OTCQB:BTCS) when it adopted trailblazing virtual currency rules last year, but the state lost momentum when the agency's chief left, putting a licensing process in limbo.
- Since then, the Department of Financial Services has issued just two BitLicenses, according to a spokesman. Another 15 applications are still pending, with four others withdrawn and four denied.