Binance Secures Money Transmitter License From Nevada Department Of Business
One of the world’s largest crypto firms, Binance, is aggressively making its presence felt across several nations. Before now, the crypto company has launched its operations in Europe. This event followed its launch in Italy and France. Furthermore, the blockchain service provider established its roots in Spain after obtaining another operating license from the Bank […]
Related News
The new license from Puorto Rico further strengthens Binance CEO Changpeng Zhao's vision to be licensed everywhere. Puerto Rico becomes the fourth jurisdiction in America to grant a money transmitter license to Binance.US, the American arm of the crypto exchange Binance. Other states that issued operational licenses to Binance.US include Wyoming, Connecticut and West Virginia. Binance.US was launched as a second attempt by Binance CEO Changpeng Zhao to cater to investors in the United States as the nation banned Binance’s primary operations, citing regulatory concerns. The new license from....
Here's where cryptocurrency firms have received the most regulatory approvals and licenses over the past few weeks. Cryptocurrency companies have been moving to improve compliance worldwide amid the bear market of 2022, with many platforms increasingly securing licenses and approvals. As one may find it difficult to track all global regulatory milestones in crypto, Cointelegraph has picked up some of the latest compliance developments over the past couple of weeks.Global crypto firms have recently been active in growing presence and compliance in North America, with exchanges like....
Nearly one and a half months ago, the world's largest Bitcoin exchange took a sudden and crushing blow from the United States government when the Department of Homeland Security shut down MtGox's Dwolla account, claiming that MtGox (or, more specifically, its US subsidiary Mutum Sigillum LLC) had been operating as a money transmitter without a license and had falsely said otherwise when applying for their bank account in 2011. Now, the situation appears to have taken a considerable step toward resolution. Today, the exchange has received its money services business (MSB) license from....
The Department of Financial Regulation of Vermont has issued a letter to the operators of the state's only bitcoin ATM suggesting that they may be subject to penalties for operating the machine without a money transmitter license. Bitcoin ATM services operator PYC and Blu-Bin, a Burlington-based 3-D printing business, were both sent the correspondence, according to Vermont Public Radio, which went on to estimate the total liabilities for operating without a license at $85,000. The agency has asserted that those involved with the machine were "knowingly engaging in a money service business"....
The State of Illinois has sought comment on a guidance document it has released on whether a money transmitter license is needed to engage in selling decentralized digital currencies. The document says the department does not require such a license since virtual currencies have not been adopted by governments as currency. The document outlines the Department of Financial and Professional Regulation (IDFPR) interpretation of the state’s Transmitters of Money Act (TOMA) and seeks to establish the regulatory treatment of decentralized digital currencies. The department is not aware of any....