Home / Tag Archives: bitlicense

Tag Archives: bitlicense

PayPal’s Digital Currency Friend Paxos Trust Experiences Major Funding Round

Paxos Trust – the official cryptocurrency partner of PayPal – has garnered more than $140 million in fresh funding through a Series C funding round.Paxos Trust Is Getting Its Hands on a Lot of MoneyThe round was led by a company known as Declaration Partners, an investment enterprise backed by billionaire and philanthropist David M. Rubenstein. Other companies to take part in the funding round include Mithril Capital, RIT Capital Partners, RRE Ventures and Liberty City Ventures.CEO of Paxos...

Read More »

PayPal Gets “Conditional” BitLicense, Will Work with Paxos Trust

New York has always been strict when it comes to bitcoin and cryptocurrency, but now that PayPal has entered the crypto fray, it looks like the company’s position in the Big Apple just got a whole lot easier.PayPal Is Asserting Itself in New YorkIt has been announced that PayPal has been given what’s known to as a “conditional” BitLicense. The circumstances of the license are somewhat different from just a straight-up BitLicense application. The former permits PayPal to attach itself and work...

Read More »

It’s Three Strikes and You’re Out for Companies Seeking a BitLicense

A new three-strike rule is now in effect for crypto businesses looking to apply for New York’s dreaded BitLicense.The Dreaded BitLicense Just Got a Lot WorseRegulators have issued a warning telling users that anyone looking to apply for a BitLicense could potentially have their applications thrown out or quickly rejected granted they do not follow the feedback or rules brought forth by New York-based lawmakers. Granted a rejection occurs three times, the company will not be permitted to try...

Read More »

New York Is Looking to Release Its Own Blockchain Payment System

Here’s an interesting “reversal of attitude.” The state of New York – which up to this point, has been relatively anti-crypto – is suddenly announcing plans to launch its own cryptocurrency payment system in the coming years.Does New York Suddenly Love Crypto?This is strange given that New York has widely been criticized for stifling cryptocurrency and blockchain innovation within its borders. The state issued the dreaded BitLicense approximately five years ago.Many saw this document as a...

Read More »

Is the BitLicense About to Lighten Up on Crypto Ventures?

New York has never been a crypto-friendly haven. Thanks to the regulations set forth by the now infamous BitLicense, the Big Apple has garnered a reputation for allegedly being anti-blockchain.The BitLicense Is About to Lighten UpBut now, changes are being made to the region’s regulatory protocols that may make things easier for crypto companies looking to do business in the city that doesn’t sleep. The New York State Department of Financial Services (NYDFS) has suggested adding new...

Read More »

NYDFS Upgrades Its BitLincense Terms for Approval of New Cryptocurrencies

The New York Department of Financial Services (NYDFS) said that it will soon introduce changes and upgrade its virtual currency license famously known as BitLicense. In the cryptocurrency community, NYDFS is well-known for already having a strict set of rules setting the highest regulatory benchmark standards.On Wednesday, December 11, Superintendent Linda Lacewell announced that the regulator will modify rules for the approval process of new digital currencies. Under the existing set of...

Read More »

Coinbase Denies Acquisition of Premier Digital Assets Broker Tagomi for $150 Million

Update: Though it was informed by media that Coinbase which is one of the world’s largest cryptocurrency trading exchanges had acquired one of the most innovative digital assets brokerage firms Tagomi for the sum of $150 million, the exchange has denied this information.As Coinbase VP of communications Rachael Horwitz noted, all this news is “100% false.”Earlier sources indicated that a deal had already been in the works and it is only recently that both parties decided to finalize the...

Read More »

Fidelity Investments Has Gotten Its Own BitLicense

The dreaded BitLicense is widely regarded as one of the most notorious and controversial pieces of crypto legislation ever administered, which is why whenever a company gets one, it’s kind of a big deal.The BitLicense Isn’t Hated By AllAmong the recent companies to get their hands on a BitLicense is Fidelity Investments, which opened its crypto assets trading division not too long ago. The license will allow the company to operate in the Big Apple and provide all its crypto and blockchain...

Read More »

Robinhood Expands Commission-Free Crypto Trading to 8 Additional U.S. States

The Robinhood investment app platform has just announced that its Robinhood Crypto feature has just added more U.S. states to its platform. Previously servicing 39 states, the 8 new additions now mean that Robinhood Crypto is now available to a total of 47 states.With Robinhood Crypto, users can trade seven digital assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin SV (BSV) Ethereum Classic (ETC), Bitcoin Cash (BCH) and Dogecoin (DOGE) all free of charge. The new state...

Read More »

Bitstamp Joins Forces with BitGo for Custodial Services for Customer Assets

Bitstamp ranks among the biggest crypto exchanges in Europe. On October 9, the exchange announced that it is enhancing its relationship with digital financial services provider BitGo. The digital asset financial services firm will offer secure storage for cryptocurrency assets under management at the exchange.BitGo is now tapped to offer custodial services to the biggest exchange in Europe by trading volume. Starting on October 10, Bitstamp will give BitGo custody of its clients’ digital...

Read More »