To receive BitLicense, Bitstamp has undergone a robust examination into the company’s Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance as well as the anti-fraud, capitalization and cybersecurity policies.
With Robinhood and LibertyX, NYSDFS has approved sixteen licenses for companies in the virtual currency marketplace.
New York Digital Investment Group has recently become the 14th company to be granted with BitLicense by the NYDFS.
Having received BitLicense from the NY Department of Financial Services, Coinsource now has an official approval to operate in New York.
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.