New York State regulators are cracking down on Bitcoin

By Cyrus Farivar -

In just one day, sources revealed, New York state regulators subpoenaed 22 Bitcoin-related companies, and a United States Senate committee wrote a letter (PDF) to the Department of Homeland Security asking for “policies, procedures, guidance, or advisories” pertaining to Bitcoin.

The letter from the Senate Homeland Security and Government Affairs Committee—dated Monday, August 12, 2013 but published on its website on Tuesday—cites an ongoing case in Texas involving Bitcoin Savings and Trust (BTCST).

READ MORE ON ARS TECHNICA