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
Crypto exchanges Coinbase and BitGo have previously received trust charters from New York's financial regulator, allowing the firms to offer crypto custody serv...
FTX US applies for trust charter in New York
Turner Wright
2022-05-11T19:15:00+01:00
1814
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“We have to continue to be competitive,” the mayor said in a keynote interview at a London crypto conference, where he suggested scrapping the states’ BitLicens...
New York Mayor urges state to abandon ‘stifling’ BitLicense scheme
Jesse Coghlan
2022-04-28T05:00:25+01:00
3803
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The fees will bring digital currency companies on par with those paid by banking and insurance institutions as a way for the state to recoup operating expense c...
BitLicensed crypto firms ordered to pay annual assessment fees in New York
Jesse Coghlan
2022-04-19T02:46:28+01:00
3575
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Billionaire Bill Ackman has called upon the city authorities to ensure that more innovators don’t migrate because of the regulatory hurdles.
Billionaire Bill Ackman calls for crypto clarity in New York
Prashant Jha
2022-02-10T09:15:00+00:00
2839
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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
12828
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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
16122
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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
4091
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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
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