As a result, all eyes have been watching New York, the document's official home.  When it comes to cryptocurrency regulation, New York is probably first in line.

As it turns out, the state's action may be inspiring other geographic areas to at least start following in its footsteps.  In compliance with the Money-Services Businesses Act, the east-central province of Quebec, Canada is asking all businesses operating a digital currency ATMs or exchange platforms to obtain appropriate licenses from AMF, or the Autorite' des Marches Financiers.  The AMF serves as the area's financial regulator.

Basically, if you run a business that trades digital currency in any way, shape or form, the business falls under the hand of various license provisions.