NEW YORK (MarketWatch) -- The New York State Department of Financial Services proposed rules on Thursday aimed at regulating business that use the virtual currency bitcoin, making it the first state to propose such rules. The potential regulations, termed "BitLicense", would include rules for consumer protection, anti-money laundering, and cyber security, the regulator said. One such rule requires businesses transacting in the digital currency to provide their names and contact information, a shift for the virtual currency which has in the past relied on anonymity. The proposed rules stem from a hearing held by the department in January, and are aimed at protecting consumers while still supporting the currency's innovation. Concerns about the currency's security have become louder since the Mt. Gox bitcoin exchange collapsed in February. A 45 day comment period begins on July 23.