From Cointelegraph
Global crypto payments processor BitPay has been granted a BitLicense by New York сtate’s financial regulator, according to a press release shared with Cointelegraph July 16.Read more: https://cointelegraph.com/news/bitpay-receives-bitlicense-from-new-york-department-of-financial-servicesThe recently acquired virtual currency license from New York’s Department of Financial Services (NYDFS) will allow BitPay to do business with customers and companies based in the state. Additionally, New York-based business will be able to use BitPay to accept Bitcoin (BTC) and Bitcoin Cash (BCH) for purchases from users worldwide.
NYDFS, which governs rules for virtual currency business activity, examined BitPay’s level of compliance with anti-money laundering (AML), know your customer (KYC), anti-fraud, capitalization, and cybersecurity policies before granting the license. BitPay CEO Stephen Pair said:
“New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.”
BitPay is the eighth company to receive a BitLicense from the NYDFS, joining other crypto-related firms such as Square, Genesis Global Trading, bitFlyer USA, Coinbase, XRP II and Circle Internet Financial.
This is a great thing. New York is home to Wallstreet St and could be considered the financial center of the world. Bitpay serves a vital role helping bridge the gap between fiat and crypto. Bitpay is vital in helping onboard new users and increasing adoption.
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This is great news and for sure these kind of positive news can boost the Crypto market because we need good vibes in Crypto Sphere. And slowly the market trend is reflecting green to some extent and that's pleasing to watch.
And we know that speculators are not less in this Sphere and they will play their part to influence people, so in my opinion in this phase all the positive decisions and implementations are addons.
And we all know that Crypto is future and it will help us to free from the fiat cycle, and many witnessed that change and already Bitcoin changed many lives and testimonies are proof of that change.
I am really excited to see the Crypto future and i believe that no matter what, we will going to reach the moon for sure. And great to see that Crypto brought awesome changes in third world countries.
Wishing you an great day and stay blessed. 🙂
Has this market come to stay?
I am not an expert, i am just an blogger who writes poetry and other writing pieces but it's my opinion that Crypto is here for stay. 🙂
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