Bitcoin in the Headlines is a weekly look at bitcoin news, analysing media and its impact.
Bitcoin’s Wild West days may be numbered, or so the headlines would have us believe.
This week saw the release of the final version of the BitLicense, New York’s long-awaited, and still heavily debated, state-specific regulation for bitcoin businesses. Unsurprisingly, the news was extensively covered in the media, and often heralded as a milestone in the evolution of the emerging technology.
Many stories used legitimizing language and headlines that foreshadowed that bitcoin had taken yet another step toward inclusion in the wider financial world.
However, the technology’s growing pains were still on display this week, as it continued to be associated with illicit Deep Web-based activities and development issues dogged one of its most well-funded startups.
The victory lap for the BitLicense came swiftly following its 3rd June release, with the mainstream narrative all but arranged to trumpet the government’s stamp of approval.
The Wall Street Journal’s Michael J. Casey wrote a piece, which noted:
“Outgoing New York Superintendent of Financial Services Benjamin Lawsky released sweeping new rules for licensing digital-currency businesses in the state Wednesday, staking part of his legacy on launching a specialised