• info[at]asiathemes[dot]com
  • (2)245 23 68

New York State Extends ‘Virtual Currency License’ to Coinsource

New York State Extends ‘Virtual Currency License’ to Coinsource

BTC Casino / 2nd November 2018

A November 1st press release from New York State’s Department of Financial Services shows that the dept. granted a virtual currency license to Coinsource. The press release says the move hopes to encourage regulatory risk-based standards.

Bitcoin Price Analysis: The Bull vs. Bear Case
Thursday January 24, 2019

As Bitcoin price rolls into the fourth day of the week we take a look at what’s happening in the market and if there is any relief in sight for […]

The post Bitcoin Price Analysis: The Bull vs. Bear Case appeared first on BTC Casino Gambling.

The release from the Department of Financial Services (DFS) details Superintendent Maria T. Vullo’s announcement that Coinsource’s application for the license has been given the green light.
With the go-ahead, Coinsource, the world’s largest network for bitcoin (BTC) 00 ATMs, “[…] is the first DFS virtual currency licensee to operate Bitcoin Teller Machines (BTM).”
In the announcement, Vullo notes that the application approval is part of an effort to keep virtual currency operations on par with the standards of the DFS as a whole:
Today’s approval is a further step in implementing strong regulatory safeguards and effective risk-based controls while encouraging the responsible growth of financial innovation. New York’s financial services marketplace is thriving with companies committed to complying with DFS’s regulations that ensure the security of transactions, safeguard the industry and protect consumers.

The CFTC Isn’t Quite Ready for Ethereum Futures
Wednesday December 12, 2018

The Commodity Futures Trading Commission (CFTC) has indicated that it still has problems with Ethereum, the world’s third-largest cryptocurrency. Ethereum Gets Dethroned… A longtime holder of the number two position, […]

The post The CFTC Isn’t Quite Ready for Ethereum Futures appeared first on BTC Casino Gambling.

Timely Response
The DFS press release notes that the new license is an adaptation to changes in technology among many lenders and exchanges. New York State has approved a total of twelve licenses to companies operating in the virtual currency sphere. The rigorous application process is based on a set of “stringent” conditions.
DFS has rapidly responded to innovations by licensing technology-based money transmitters under New York’s money transmitter law
The press release also mentions that Coinsource will receive intense monitoring from the DFS, while cementing “risk-based controls” dealing with money laundering, fraud, etc.

Coinsource CEO Sheffield Clark expressed his pride in heading the only BTM company to hold one of the twelve DFS licenses:
Now that Coinsource is a license holder, our customers can buy and sell with confidence that Coinsource meets and exceeds the high standards set by the New York Department of Financial Services. New York represents not just a center of global innovation but also one of our largest target markets.
Coinsource currently runs 40 BTM kiosks throughout New York, as well as Los Angeles, D.C., and other cities and states.
What are your thoughts on the New York State virtual currency license extended to Coinsource? Let us know in the comments below!

Grayscale Has Raised Nearly $330 Million This Year According to Q3 Report
Friday November 02, 2018

Grayscale’s Q3 2018 Digital Investment Report says the firm has raised around $330 million so far in 2018. Grayscale had raised $25.4 million at this time in 2017.  The latest […]

The post Grayscale Has Raised Nearly $330 Million This Year According to Q3 Report appeared first on BTC Casino Gambling.

Images courtesy of NOIAW, Shutterstock.
The post New York State Extends ‘Virtual Currency License’ to Coinsource appeared first on Bitcoinist.com.

@ 2017 Esol Theme powered by WordPress Developed by ASIATHEMES