New division for licensing crypto firms established by New York regulator

posted 12 months ago
The New York State Department of Financial Services (NYDFS), New York's financial regulator, has created a specific division for licensing crypto-related companies. The aim of this division, called Research and Development Division, will be "to oversee virtual currencies and study license applications."

All crypto firms interested in offering their services in NY must apply for a BitLicense to the regulator. From now on, this new division will be specialized in analyzing them. The NYDFS has granted less than 30 licenses to crypto companies to date.
Tags: bitcoin, news