Coinbase lauds North Carolina Bitcoin Regulation

Coinbase, a California-based Bitcoin wallet company, recently expressed its views about the Bitcoin regulations introduced by the North Carolina legislature in March through a blog.

It acknowledged the state for improving the Money Transmission Act (MTA), which in its finalized form would encourage innovation and regulatory efficiency.

Coinbase pointed out NC's approach to bring in certain amendments that would directly benefit the small start-ups, something that most of the other US states had been unsuccessful to do so far. One of these said amendments was about lessening the burden of the start-ups by making them liable to require only one license to operate.

"Both state and federal regulators have an interest in preventing financial crime, but duplicative or inconsistent Anti-Money Laundering (AML) rules will cause unnecessary inefficiencies or redundancies for both regulators and businesses", the company said in its blog.