Coinbase approved for crypto custody service in New York

posted 7 months ago
Coinbase has received approval from New York regulators to form a qualified custodial firm for cryptocurrencies. The New York Department of Financial Services granted Coinbase's application to create the Coinbase Custody Trust Company LLC, as well as approving the Coinbase Trust to offer custody services for bitcoin, litecoin and others.

Coinbase COO and president Asiff Hirji praised the move, noting that the NYDFS has been "a strong advocate" for the "responsible growth of the cryptocurrency industry."
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