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
Tokyo-based cryptocurrency exchange bitFlyer launched its commission-free campaign for BTC/USD trading pair to its U.S. customers.
BitFlyer Now Offers US Users 0% Fees When Buying Bitcoin With USD
Helen Partz
2020-01-31T22:36:00+00:00
7008
News
New York Governor Andrew Cuomo wants crypto businesses to pay for NYDFS’ oversight to “make progress happen.”
NY Governor Wants Crypto Firms to Cover Costs for NYDFS Oversight
Helen Partz
2020-01-09T17:43:00+00:00
2203
News
The New York Department of Financial Services plans to review its crypto listing framework by late January 2020.
NYDFS to Update BitLicense’s Terms for the First Time in 5 Years
Helen Partz
2019-12-11T17:44:00+00:00
1839
News
California-based financial firm SoFi has acquired a BitLicense from the New York State Department of Financial Services.
SoFi Obtains BitLicense to Offer Crypto Trading Services in New York
Helen Partz
2019-12-03T18:21:00+00:00
2823
Analysis
Crypto custody solutions are on the rise, and Coinbase appears to be taking over the market — who else is chasing the number one spot?
Crypto Custody Market Overview — Who Are the Biggest Players?
Shiraz Jagati
2019-08-27T18:24:00+01:00
6095
News
The head of Circle’s over-the-counter trading desk has resigned and an in-house trader will reportedly fill his vacancy.
Circle OTC Trading Branch Head Daniel Matuszewski Resigns
Max Boddy
2019-08-02T19:55:00+01:00
2974
Follow up
The New York State Assembly appointed six members to its Digital Currency Task Force. Joseph Lubin and a Microsoft rep. are just some of those on the list...
New York Crypto Task Force: Industry, Government to Review Regulations
Stephen O'Neal
2019-07-30T21:33:00+01:00
4415
News
Fidelity’s crypto arm Fidelity Digital Assets Services reportedly filed with the NYDFS for a New York trust licens.
Fidelity’s Crypto Branch Files for a New York Trust License: Report
Helen Partz
2019-07-20T22:46:00+01:00
4982

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