[2017-01-18] DCEBrief - DFS Approves BitLicense for Coinbase

[Chase]

DFS Approves BitLicense for Coinbase

In a press release on Tuesday, the New York State Department of Financial Services (DFS) announced that it has granted Coinbase, Inc. the virtual currency and money transmitter license needed to continue its operations in New York. The company had announced that it applied for the state’s “BitLicense” in August, 2015, and has been operating in New York under the terms of a safe harbor provision while it waited for formal approval.

https://dcebrief.com/dfs-approves-bitlicense-for-coinbase/

[1714002690]

1714002690

[1714002690]

1714002690

[1714002690]

1714002690

[1714002690]

1714002690

[Coin-Keeper]

A step in the right direction, at least a small step.  Folks in NY have been handcuffed for acquiring BTC.  Localbitcoins sellers won't touch NY state in any fashion.  Many drive across the state lines to deposit in "sister" states so its legal.  I wonder if some NY residents will venture to Coinbase, but at the expense of all anonymity.  Shame, but it is what it is at this point.

[Slark]

Circle obtained first BitLicense in September 2015 (but you can't use them to buy/sell BTC anymore). Currently there is Gemini operating in New York under BitLicense.
So it is not blank spot on a bitcoin trading map as we might think. It is not like dealing with Bitcoin, selling or buying is totally prohibited in NY.
There is a reason why most bitcoin companies neglect New York. It is just too much pain to met every point of BitLicense.