Abstract : New York state is regarded as the region that has one of the most stringent policies for cryptocurrency business in the world.
February 1 (ChainDD) The Department of Financial Services in New York state (NYDFS) announced on January 31 that it granted cryptocurrency business license BitLicense to Cottonwood Vending LLC.
ChainDD noted that Cottonwood Vending became the third Bitcoin ATM operator which obtained BitLicense. The first licensee is Coinsource and it took it three years to complete the application procedure. The second one LibertyX, was granted just one week ago, is the first service provider licensee that allow customers to use debit cards to purchase Bitcoin from traditional ATMs.
According to ChainDD’ previous brief news, the New York state set up a high threshold to cryptocurrency related operation, and it is regarded as the region that has one of the most stringent policies for cryptocurrency business in the world.
Before approving Cottonwood Vending, NYDFS only licensed 18 companies in cryptocurrency sector.