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NYDFS News

The New York State Department of Financial Services (NYDFS) — also known as the DFS and NYSDFS — is a department of the New York State government that regulates financial services and products in such fields as insurance, banking and financial services. The NYDFS’s BitLicense is a business license for virtual currency activities, which is required for operating in New York. For the effective usage of an NYDFS’s Bitcoin license, New York state has come up with a definition of virtual currency (VC) business activity that covers five main points, such as transmission of VC, maintaining custody of VC on behalf of others, buying and selling VC as a customer business, performing exchange services and issuing, controlling and administering VC. There are currently nine NYDFS BitLicensed companies, some of them being Ripple, Coinbase and Square, Inc. Implementation of BitLicense by the NYDFS has forced many startups to stop working in New York.

Top News

Is Dogecoin set to follow Shiba Inu’s (SHIB) 400% breakout?

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Shiba Inu rebounds 40% despite major selling by SHIB whales

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Bitcoin ATM operator Coinsource has been granted a virtual currency license from the New York State Department of Financial Services (NYDFS).

Bitcoin ATM Operator Coinsource Gets New York Regulator’s Green Light With ‘BitLicense’

2018-11-01T18:25:00+00:00

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New York approved two fully audited stablecoins from Gemini and Paxos, which experts say may largely impact the crypto market.

Two US-Audited Stablecoins Debut, Experts See Massive Impact on Crypto Market

2018-09-12T20:35:00+01:00

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Historically a business-friendly center and international financial hub, New York is not that welcoming to crypto.

BitLicense Approval Shines Fresh Light On New York-Crypto Relationship

2018-06-01T01:42:00+01:00

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The executive director of Bitcoin Foundation does not want the pending case between Theo Chino and the New York Department of Financial Services in favor of the...

Why BitLicense Case Should Not Be Dismissed

Olusegun Ogundeji

2017-05-03T15:35:00+01:00

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The Gemini bitcoin exchange, which seems to have been caught up in red tape for-ever, has finally won regulatory approval from the NYDFS, according to the compa...

Winklevoss Twins’ Gemini Bitcoin Exchange Finally Wins Regulatory Approval

2015-10-05T16:51:00+01:00

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The New York State Department of Financial Services has released the application forms that Bitcoin companies in the state must complete by August 8 in order to...

New York Releases 31-Page BitLicense Application Form

2015-06-26T15:36:47+01:00

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ShapeShift terminated its services in New York today, due to the state’s BitLicense regulations for digital currencies.

ShapeShift Leaves New York, Choosing Not to Comply with BitLicense

2015-06-11T17:47:08+01:00

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The New York State Department of Financial Services (NYDFS) yesterday released the third and final revisions to its BitLicense legislation.

The Bitcoin Community Reacts to the NY BitLicense

2015-06-04T14:27:00+01:00

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