New York State Extends ‘Virtual Currency License’ to CoinsourceBTC 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 Venezuela Develops Tiny Mesh Nodes For Off-Grid Transactions
Thursday January 24, 2019
Mesh networks mesh [sorry] very well with the libertarian ethos of Bitcoin, freeing users from the tyranny of state-regulated ISPs. Necessity being the mother of invention, Bitcoin Venezuela are developing […]
The post Bitcoin Venezuela Develops Tiny Mesh Nodes For Off-Grid Transactions 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.
CryptoSkull Review – The lucrative and addictive minesweeper type litecoin, bitcoin game.
Tuesday January 22, 2019
Cryptoskull – blockchain-based bitcoin gambling website This minesweeper style litecoin, bitcoin game was launched toward the end of 2017 and gradually gained its popularity in the end of 2018. This […]
The post CryptoSkull Review – The lucrative and addictive minesweeper type litecoin, bitcoin game. appeared first on BTC Casino Gambling.
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!
GG World Lottery Secures Funds for Expansion from its Public Sale
Monday December 10, 2018
With a proven and working platform already in place, GG World Lottery has not only been able to secure funds for its marketing department but also has funds in place […]
The post GG World Lottery Secures Funds for Expansion from its Public Sale 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.