BitLicense is the permission presented as a certificate that is provided by the Department of Financial Services of New York. The license enables enterprises to conduct activities with digital coins and has special regulations for them. It first appeared in 2015. The certificate is not easy to obtain, that is why cryptocurrency exchanges and companies that have it are considered very honorable.
The first company to get hold of the license was a blockchain startup Circle, it was followed by Ripple, which received the certificate a couple of months later. Then it was the turn for a cryptocurrency exchange Coinbase. The Japanese company bitFlyer and the US platform Genesis Global Trading became the fourth and fifth happy owners of BitLicense.
Now the time has come for the 6th lucky winner. It turned out to be a digital wallet Bitcoin Wallet Xapo. According to the official press release:
“NYSDFS has conducted a comprehensive review of Xapo’s application, including the company’s anti-money laundering, anti-fraud, capitalization, consumer protection, and cybersecurity policies.”
The president of Xapo claimed that all his employees are very happy about this decision, since they have been working hard to achieve their goals. Now the digital wallet can provide its services to the citizens of New York.
Founded in California, the company eventually moved to the Crypto Valley in Zug, Switzerland.
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