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Bitcoin Exchange Bitstamp receives New York's BitLicense

the in The U.S. state of New York equips the Bitcoin exchange Bitstamp with a BitLicense. The Luxembourg Exchange is allowed to operate in Overseas. New York i

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Bitcoin Exchange Bitstamp receives New York's BitLicense
the in The U.S. state of New York equips the Bitcoin exchange Bitstamp with a BitLicense. The Luxembourg Exchange is allowed to operate in Overseas. New York is known for its strict rules in the crypto sector.

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10. April 2019BTC$5.283,70 1.68%part Facebook Twitter LinkedIn xing mail

Bitstamp expand to. And with the regulatory approval by the relevant New York authority New York State Department of Financial Services (DFS), is likely to be the end of it. As the company has announced, the DFS, the U.S. offshoot of the European company, Bitstamp Ltd., a so-called BitLicense. Companies that want to offer financial services with a crypto-reference in the US Federal state, they must first consult with the Supervisory authority.

Institutional investors in the sights

"The receipt of a BitLicense is a key element for the Expansion of our presence in the USA, in particular, in the case of cooperation with institutional investors", - stated in the press release. This is already for quite some time, a decisive company of the Bitcoin stock exchange. So BTC-ECHO reported in November 2018 by cooperation with Irisium, a Software company that focuses on the prevention of market manipulation.

This focus facilitated a clean and safe Trading environment is expected to the receipt of the BitLicense. This is, in fact, linked to a whole catalogue of regulatory requirements, so far, only 18 companies were able to meet.

Also, Bitstamp CEO Nejc Kodrič emphasizes the lived-in Compliance with the legal framework:

Bitstamp has always made efforts, the legal formalities to be complied with. This focus on transparency and accountability, in order to strengthen the industry and to close the gap between the traditional financial sector, and the crypto-world,

the industry platform Coinjournal quoted him as saying.

BitLicense as a necessary control instance

Until the end of March we reported that the award of the BitLicense to the New York-based financial services provider Tagomi Trading LLC. The company is the first Broker for digital currencies in the state, may operate under the license. If you consider that since the year 2015 only 19 licenses have been granted, seems to be the competent Department of Financial Services, to be very careful who is allowed to provide cryptographic Services in New York. This provides for the necessary protection of investors and scammers are pushing companies increasingly out of the market.

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