Granted this a rather provincial point of view, but Circle and Coinbase are the only two companies I'm aware of allowing residents of the state of New York to c

Granted this a rather provincial point of view, but Circle and Coinbase are the only two companies I'm aware of allowing residents of the state of New York to convert bitcoins to cash and vice-versa. This is because the state of New York instituted a virtual currency license called BitLicense[1] that treats commercial bitcoin transactions as "money transmission"[2]. Ripple was also issued a Bitlicense[3] recently, but their virtual currency is not bitcoin. Haven't seen word on Coinbase's Bitlicense approval, but they applied last year sometime and are expected (or perhaps already have received) their license. [1] https://en.wikipedia.org/wiki/BitLicense https://en.wikipedia.org/wiki/BitLicense [2] https://en.wikipedia.org/wiki/Money_transmitter https://en.wikipedia.org/wiki/Money_transmitter [3] http://www.coindesk.com/new-york-bitlicense-ripple/# http://www.coindesk.com/new-york-bitlicense-ripple/#