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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

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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