Bitcoin license in new York will be supplemented with a new regulator
The Department of financial services of the state of new York (NY DFS) has created a new unit that will be responsible for the licensing and supervision of bitcoin, virtual currencies and related companies.
The new division of research and innovation will support DFS NY in the area of internal reforms and market innovations, to keep pace with rapid changes in all sectors of the financial services industry.
The unit will also be responsible for providing a license for the cryptocurrency, known as Regulations, those companies that provide services for bitcoin transactions for clients throughout the state of new York.
Regulatory framework Regulations, which came into force on 8 August 2015, is aimed at monitoring and regulation of cryptocurrency transactions associated with bitcoin, proposed in the state of new York.
From the moment you enter the license, the new York regulator has issued twenty permits, and Regulations is called one of the most stringent regulatory crypto-documents in North America.
As a result of entering licensing from September 2015, more than fifteen companies dealing with bitcoin and digital currencies, left the state of new York due to new regulations, including Vaultoro, Shapeshift, Paxful, Poloniex, Bitfinex and Kraken in the so – called “Great Exodus of bitcoin”.
Stock Markets Group