Department of Financial Services Superintendent Benjamin Lawsky stated in an interview that the DFS has received thousands of comments to its proposed BitLicense regulations and expects to finalize the regulations at the end of this year or early next year.

It appears that FinCEN has, at least to some extent, clarified the status of Bitcoin miners as Money Service Businesses (MSBs) under the federal Bank Secrecy Act (BSA). has posted the text of an unpublished administrative ruling from FinCEN responding to a request for clarification filed by Atlantic City Bitcoin LLC in June of this year.  While we have not yet been able to confirm it with FinCEN, the ruling appears to be genuine.  According to the text of the ruling posted on, Atlantic City Bitcoin would not be engaged in money transmission (and thus required to register with FinCEN as an MSB) if it (1) uses mined bitcoins to purchase goods or services from, or pay debts due to, others on its own behalf, (2) converts mined bitcoins into legal tender or other virtual currencies, or (3) transfers mined bitcoins to its owners.
Continue Reading FinCEN Appears to Clarify Status of Bitcoin Miners in Unpublished Ruling