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New York's dream of being virtual currency hub fades

Its BitLicense regulation in limbo after departure of top regulator, allowing London and S'pore to catch up

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The bitcoin market is worth about US$10.7 billion, compared to less than US$1 billion three years ago, according to information site CoinDesk.

New York

NEW York's financial regulator had its sights set on becoming a global hub for innovations like bitcoin when it adopted trailblazing virtual currency rules last year. But the state lost that momentum when the agency's chief left, putting a licensing process in limbo and allowing

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