Cryptocurrency
BitPay granted virtual currency license by NY regulator via @reuters
As reported by Reuters, “The New York Department of Financial Services (DFS) said on Monday it had granted a virtual currency license to bitcoin payments processor BitPay. “BitPay, which was founded in 2011, is authorized to offer clearing and settlement services to merchants willing to accept payment in bitcoin or issue payments in bitcoin. “In […]
As reported by Reuters, “The New York Department of Financial Services (DFS) said on Monday it had granted a virtual currency license to bitcoin payments processor BitPay.
“BitPay, which was founded in 2011, is authorized to offer clearing and settlement services to merchants willing to accept payment in bitcoin or issue payments in bitcoin.
“In a statement, DFS said it has conducted a comprehensive review of BitPay’s application, including the company’s anti-money laundering, anti-fraud, capitalization, consumer protection, and cybersecurity policies. The new licensee is subject to ongoing supervision by DFS.
“With the BitPay approval, the DFS has now approved ten firms for virtual currency charters or licenses for the state of New York – Square, Xapo Inc, Genesis Global Trading Inc, bitFlyer USA, Coinbase Inc, XRP II and Circle Internet Financial, and charters to Gemini Trust Co and itBit Trust Co.”