Robinhood and LibertyX

Robinhood and LibertyX Receive Cryptocurrency License From New York Regulator

Popular trading app securities and cryptocurrencies Robinhood has received a BitLicense to provide services related to digital assets in New York, the New York State Department of Financial Services (DFS) said this Thursday..

From now on, New Yorkers will be able to trade seven cryptocurrencies using the app, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Besides, today the developer Robinhood became the licensee for the provision of services related to the implementation of money transfers, specified in DFS.

Robinhood and LibertyX Receive Cryptocurrency License From New York Regulator Popular securities and cryptocurrency trading application Robinhood has received a BitLicense to provide services related to digital assets in New York, the New York State Department of Financial Services (DFS) said Thursday.

In June 2018, Bloomberg, citing anonymous sources, wrote that Robinhood was in talks with regulators regarding obtaining a banking license. The application began to provide the ability to trade digital assets without paying commissions in February of the same year, and in May it announced that it had raised $ 363 million to expand its cryptocurrency offer.

Also Reuters today reported that the market valuation of Robinhood is $ 5.6 billion. TechCrunch previously wrote that the company may conduct an initial public offering (IPO).

LibertyX became the second owner of the BitLicense. It is now the only licensed company in New York that allows you to buy cryptocurrencies with debit cards through regular ATMs..

According to information on the LibertyX website, your first the company installed a bitcoin terminal in 2014 and today it serves several thousand points, including traditional ATMs.

With the latest expansion, the number of cryptocurrency companies legally authorized to operate in New York has reached 16. The BitLicense was introduced in 2015 and faced criticism from industry representatives, many of whom considered its requirements too strict and chose to refuse to work in New York. -York. Other licensed firms include Circle, Genesis Global Trading and Square.