[2015-04-25] Cointelegraph: ItBit Set to Become First US Regulated Bitcoin Bank

[pabloangello]

Having filed its registration application in New York, ItBit is looking to become the first regulated Bitcoin bank in America.

ItBit, a digital currency exchange operationally based in Singapore and with a head office in New York, looks to become the first officially regulated Bitcoin bank as they look to expand their service offering. The move would allow the company to legitimately take on a more traditional banking service role while meeting relevant legal requirements.


http://cointelegraph.com/news/114057/itbit-set-to-become-first-us-regulated-bitcoin-bank

https://www.itbit.com/

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[Chef Ramsay]

“The second wave of Bitcoin companies, like ItBit, aims to have institutional investors as clients, and to create trust. With trust of course comes regulation, as without regulation it's very hard to create this trust. Once regulators come out with proper and pragmatic regulation, we will see an upsurge [in Bitcoin] no doubt.”

Bullish statement that is leaning on the upcoming bitlicense that will be unveiled in May. Once this license comes out there's so many things in this market that are going to flourish and it's right around the corner. Just think about how far we've come since early 2014. Everything has been primed.