New York Reportedly Readies Bitcoin Licenses for Coinbase and Ripple Labs
Coinbase and Ripple Labs Inc. are close to receiving bitcoin licenses to offer their virtual currency services in New York State, according to Reuters. Both companies have provided applications to the state’s Department of Financial Services (NYSDFS), according to a notice on the department’s website. The notices usually post following completion of the paperwork, according to sources who wished to remain unnamed. The precise times of the license approvals are uncertain. Both companies are based in San Francisco, Calif. New York last year issued the most extensive regulations for operating....
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The process of getting all of the paperwork and legal documentation together is both time-consuming, and costly. But that is not the biggest concern, as BitLicense requires companies to keep an extensive amount of details on all of their customers. Two more companies are on the brink of obtaining the infamous Bitlicense, which makes Coinbase and Ripple compliant Bitcoin entities in the state of New York. Both companies applied for their license several months ago, but it looks like there is light at the end of the tunnel. According to a source familiar with the matter, both Ripple and....
The New York State Department of Financial Services (NYDFS) has issued a new statement indicating Coinbase has not yet secured a license to operate in New York. The remarks, relayed by a spokesman to The New York Times, suggest that the department, which is currently working on a final version of its BitLicense regulation, is still in talks with Coinbase about its legal status in the state, but that no decisions have been finalized. The NYDFS spokesman said: "We are working with several companies, including Coinbase, on licensing and will continue to move forward expeditiously. That said,....
According to a Reuters report, Coinbase and Ripple are very close to being approved for bitcoin licenses by New York’s financial regulator, which would allow the two companies to legally operate within the state. A notice published on the The New York State Department of Financial Services’s (NYDFS) website shows that the state agency received....