BitLicense News

BitLicense is a business license for using cryptocurrencies with a lengthy list of terms and conditions. It was issued on the 8th of August, 2015, by the New York State Department of Financial Services (NYSDFS). In general, it defines the major rules on businesses operating with digital currencies, such as virtual currencies’ control, administration, maintenance, storing, holding, issuing, exchange operations, related-software development, etc.
The license is relevant for entities, while retailers and individuals are allowed to make transactions without the use of the license. On the one hand, the business community met the license positively because it provides a legal framework and protection without a need for proving legitimacy of their work to customers. On the other hand, those rules increase both time and costs, which already are in deficit.

News
Bakkt will also have a money transmitter license in the state of New York.
New York grants Bakkt coveted BitLicense
Kollen Post
2021-03-11T14:58:19+00:00
12617
News
Andrew Yang has plans for New York City that cryptocurrency users anywhere would find appealing.
Andrew Yang says he'll transform NYC into a Bitcoin hub if elected mayor
Cyrus McNally
2021-02-12T02:02:29+00:00
15779
News
The stablecoin issuer and PayPal partner wants to increase its range and scope of services by becoming the first crypto services provider to be regulated at bot...
Paxos seeks approval to become fully-regulated crypto bank
Cyrus McNally
2020-12-10T04:17:59+00:00
3821
News
With a new Senate bill on the table, New Jersey is getting closer to introducing a state-level licensing framework for crypto firms.
New Jersey follows in its neighbor state's footsteps with crypto license bill
Marie Huillet
2020-11-09T10:28:03+00:00
12139
Follow up
For now, PayPal's crypto payments are more about satisfying regulators than providing users with crypto capabilities.
Regulation will keep PayPal's new crypto services from looking anything like crypto
Kollen Post
2020-10-21T16:27:22+01:00
11665
News
Gemini looks at regulation as a good thing, with the recently suggested conditional BitLicense as a move in the right direction.
Gemini Chose to Wade Regulation In New York, Weighs in on Conditional BitLicense
Benjamin Pirus
2020-07-04T01:30:00+01:00
25086
News
The New York Department of Financial Services is requesting comments on its amendment to the BitLicense that would help smaller companies be regulated.
NY Regulators to Pair Companies With 'Guardians' for a Conditional BitLicense
Andrey Shevchenko
2020-06-25T13:05:00+01:00
2686
News
Congressional candidate Jonathan Herzog believes that the U.S. government needs to embrace crypto and blockchain not to fall behind other nations.
Jonathan Herzog May Be the Most Crypto-Friendly Congressional Candidate Yet
Michael Kapilkov
2020-06-09T09:16:00+01:00
4587

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