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Back in February of this year, the financial services superintendent for New York, Benjamin Lawsky, announced detailed plans to regulate the use of the digital crypto-currency by the end of this year. At that time, he proposed the issuance of ‘BitLicenses’ to all companies who deal with Bitcoins that would permit them to operate in a similar manner than they had done in the past but had the additional stipulation that all Bitcoin exchanges would be required to warn their customers of the volatility of Bitcoin value and of the irreversibility of Bitcoin transactions.