Formulating the following text to give context for this link, has made me appreciate Bitcoin even more when considering the financial hoops and legal hurdles that X has had to go through - and it's not yet a done deal...

So, here's my blurb:

Virginia is the most recent state to grant X an electronic money transfer license.

Virginia's approval brings the number of states to approve to seventeen since their first approval in June.

The company is said to have chosen to target states with easier requirements before approaching states with stricter application processes such as New York and California.

For X to be able to transfer money electronically across the states the company would have approval from all fifty states.