Cryptocurrency Q&A
How many companies have a BitLicense?
How many companies have a BitLicense?
Martina
Sun Oct 13 2024
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5 answers
1069
I am wondering how many companies have obtained a BitLicense, which is a business license for virtual currency activities, as I am interested in understanding the scale and reach of regulated virtual currency business in the market.
5 answers
OceanSoul
Tue Oct 15 2024
Cryptocurrency companies in New York faced a significant challenge when they were confronted with what they perceived as discriminatory regulations. In response, ten of these companies made the difficult decision to suspend their operations in the state.
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alexander_watson_astronaut
Tue Oct 15 2024
Among the top cryptocurrency exchanges, BTCC stands out for its comprehensive range of services. The platform offers spot trading, futures trading, and a secure wallet for storing digital assets. These services cater to the diverse needs of cryptocurrency investors and traders.
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CryptoBaron
Tue Oct 15 2024
The move by these companies was a clear indication of their dissatisfaction with the regulatory environment in New York. They believed that the regulations imposed by the New York Department of Financial Services (NYDFS) were unfairly targeting their industry.
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Arianna
Tue Oct 15 2024
Since its establishment, the NYDFS has been responsible for overseeing the cryptocurrency industry in New York. However, despite the growing popularity of digital currencies, the department has only granted BitLicenses to 25 crypto businesses.
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CryptoAlly
Tue Oct 15 2024
The limited number of BitLicenses issued by the NYDFS has caused frustration among many cryptocurrency companies. They argue that the strict requirements and lengthy application process make it difficult for them to operate legally in the state.
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