NEW YORK (MarketWatch) -- The New York State Department of Financial Services said Thursday it will hold a public hearing on the regulation of virtual currencies like bitcoin in the coming months. The hearing will focus on the connection between money-transmission regulations and virtual currencies, as well as consider a specific license for virtual currencies, the regulator said in a notice of intent. The possible BitLicense would have anti-money laundering and consumer protection requirements, and the hearing could address how and when such a license would be issued. The move comes after the regulator in August issued several subpoenas to bitcoin companies and said it would examine regulation of virtual currencies. "Virtual currencies may have a number of legitimate commercial purposes, including the facilitation of financial transactions," Benjamin Lawsky, superintendent of financial services, said in the notice. "That said, NYDFS also believes that it is in the long-term interest of the virtual currency industry to put in place appropriate guardrails that protect consumers, root out illegal activity, and safeguard our national security."