Financial services provider Square has got the NYSDFS 7th-ever BitLicense allowing New Yorkers to trade cryptocurrency on the rapidly growing Cash app.
Cryptocurrency wallet and vault Xapo is the latest recipient of New York’s ‘BitLicense’, arguably the strictest state law governing the crypto sector, from the state’s financial regulator.
Assemblyman Ron Kim talks of having blockchain-friendly regulatory measures that could foster fintech innovation in New York.
The obtained BitLicense will enable cryptocurrency brokerage firm Genesis Global Trading to facilitate the trading of several digital currencies.
The fact-finding inquiry into the practices of crypto exchanges is intended to ensure all mandatory procedures of registration are being followed with transparency.
The new bill proposed by New York legislator seeks to foster a healthy environment for crypto businesses by relaxing the existing BitLicense process, without compromising on investor safety.
After the launch of Bitlicense, New York power authority wants to tax bitcoin mining activities which can increase the utility bills of residents while not bringing enough economic value in return.
South Korea considers new approach to cryptocurrency regulation contributing to the new rise of Bitcoin.
The New York Department of Financial Services approved the virtual currency and money transmitter license for Coinbase after a thorough review of its applications.
BitLicense was granted after a thorough study of Ripple’s standards by New York Financial Watchdog.