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Author Topic: [2017-03-22] DNA: New York grants license to trade more virtual currencies  (Read 440 times)
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March 23, 2017, 12:22:55 AM

New York grants license to trade more virtual currencies

New York authorities today granted a license to Coinbase to trade in two additional virtual currencies, expanding the company's services which already included Bitcoin starting in January.

The California company -- the fifth licensed to trade in digital currencies in New York -- now will be able to offer Ethereum and Litecoin as well as "Shift Card," Coinbase's virtual-currency debit card service, the state's Department of Financial Services said in a statement.

The announcement also spotlighted tensions between the agency and national banking regulators in Washington over who has the authority to oversee the so-called fintech industry dealing in virtual currencies.

US Treasury's Office of the Comptroller of the Currency is seeking to create a national charter to impose rules on fintech companies, as it does with traditional banks.

But that has drawn the ire of local regulators, and New York's DFS says states are best placed to protect consumers and oversee such operations.
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