Bitcoin 

Institutional Crypto Trading Platform Bakkt May Seek New York BitLicense

Intercontinental Exchange (ICE)-lead institutional cryptocurrency trading platform Bakkt is considering acquiring a New York BitLicense to launch its bitcoin futures, Bloomberg reports on April 18. Bakkt has seen resistance from the United States Commodity Futures Trading Commission (CFTC) to approve its bitcoin futures because of its intentions to custody user’s assets. Bloomberg quotes anonymous sources familiar with the situation, stating that to ease the concerns of the regulator, the company is considering acquiring a license from New York financial regulators. The CFTC recognizes state bank and trust licenses and could…

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Blockchain 

Bittrex Responds to NYDFS Denial of BitLicense Application, Cites Factual Inaccuracies

United States-based cryptocurrency exchange Bittrex has responded to the New York Department of Financial Services’ (NYDFS) denial of the company’s BitLicense application in a press release published on April 10. Earlier today, NYDFS denied Bittrex’s application for a BitLicense — which is required to conduct virtual currency related business in the state of New York — claiming that the exchange had inadequate policies and controls regarding Anti-Money Laundering (AML), Know Your Customer (KYC) and the Office of Foreign Assets Control (OFAC) standards. In its response, Bittrex expressed its disappointment in…

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Bitcoin 

New York Denies Bittrex BitLicense Application Citing Inadequate Compliance

The New York Department of Financial Services (NYDFS) has denied a BitLicense application from the Bittrex cryptocurrency exchange on April 10. In a letter to Bittrex CEO Bill Shihara, NYDFS explained that the exchange had inadequate policies and controls regarding Anti-Money Laundering (AML), Know Your Customer (KYC) and Office of Foreign Assets Control (OFAC) standards. Bittrex applied for its BitLicense — which is required to conduct virtual currency related business in the state of New York — in August, 2015. Bittrex had been operating under the terms of a “safe…

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Bitcoin 

US Subsidiary of EU Crypto Exchange Bitstamp Seals Bitlicense From New York Regulator

The United States subsidiary of major European crypto exchange Bitstamp has been granted a virtual currency license from New York state’s financial regulator, according to an official press release from the New York Department of Financial Services (NYDFS) on April 9. The license, known as a BitLicense, has been awarded by the NYDFS to Bitstamp USA Inc., a subsidiary of the Luxembourg-registered exchange. According to the press release, the development makes Bitstamp USA reportedly the nineteenth firm to receive the department’s green light to conduct digital currency operations in New…

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Bitcoin 

Tagomi Holdings’ Subsidiary Gets BitLicense from New York DFS

The New York State Department of Financial Services (DFS) has granted a BitLicense to institutional-grade crypto trading platform Tagomi Trading, according to an official press release on March 27. Tagomi Trading, a subsidiary of Tagomi Holdings, is now legally authorized to trade virtual currency assets and to engage in money transmission. The company is allowed to offer trade routing and order execution services for non-security virtual currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), the statement notes. The firm’s parent company, Tagomi Holdings, was launched by…

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Bitcoin 

New York Financial Regulators Grant BitLicense to Bitcoin ATM Operator

The New York State Department of Financial Services (NYDFS) has granted a virtual currency license, or BitLicense, to Cottonwood Vending LLC, according to an official tweet on Jan. 31. Cottonwood Vending is a Bitcoin (BTC) ATM operator with terminals in New York City and the surrounding area. According to the tweet, the granting of such licenses “continues to advance responsible innovation in New York’s fintech industry.” Bitcoin ATMs, or BTMs, are touchscreen kiosks that enable users to deposit cash and either buy Bitcoin, or to scan their mobile wallet, sell…

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Ethereum 

New York Financial Regulator Grants BitLicense to Robinhood and LibertyX

Stock and crypto trading app Robinhood has received a BitLicense to operate in New York, the New York State Department of Financial Services (DFS) reports on Jan. 24. Robinhood now has permission to trade in seven cryptocurrencies — including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) — in the U.S. state of New York. According to the DFS, Robinhood has additionally been granted a money transmission license. Last summer, anonymous sources reported that Robinhood was in talks to secure a U.S. banking license. The app began allowing…

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Bitcoin 

New York Digital Investment Group Subsidiary Acquires New York BitLicense

The New York State Department of Financial Services (DFS) has granted a BitLicense to NYDIG Execution, according to an official DFS announcement published Nov. 14. NYDIG Execution, a subsidiary of the New York Digital Investment Group LLC (NYDIG), is now legally authorized to operate cryptocurrency-related business and to conduct money transmissions. Through the recent license, the firm is permitted to offer crypto custodial and trade execution services in the jurisdiction of New York state. NYDIG will be allowed to operate as a crypto custodian for five cryptocurrencies; Bitcoin (BTC), Bitcoin…

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