Digital currency firms that hold a BitLicense are now required to pay an assessment fee; this new order was included in the state's FY2023 budget that came into law last April 9.
The New York financial watchdog was assigned the responsibility of developing a new assessment mechanism for VASPs in the state’s new budget for 2023.
Kathy Hochul, the new governor of New York, has nominated former Obama official Adrienne Harris to head up the New York Department of Financial Services.
The agency said the license would now enable Bakkt to support customers in New York in buying and selling digital currencies and other digital assets.
The New York Department of Financial Services granted a charter to GMO-Z.com Trust Company Inc. to issue the GYEN stablecoin in the state.
The NYDFS is now granting conditional BitLicenses, partnership opportunities, and has updated their policies.
ErisX has become the latest digital currency firm to get the green light to operate in the state of New York after acquiring the BitLicense from the NYDFS.
The New York Department of Financial Services has set out what it describes as the “first step” to reviewing the license, which has been in operation since 2015.
SoFi will now offer crypto trading services to New York residents after receiving the coveted BitLicense from the New York Department of Financial Services.
Bittrex customers hoped recent news might mean the exchange could reopen to New York, but that’s not the case.
The Bitcoin ecosystem continues to advance at a steady pace as it becomes more mature and integrated into everyday life.