United States:
NYDFS Approves Software Company's Virtual Currency And Money Transmitter Application
09 December 2019
Cadwalader, Wickersham & Taft LLP
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The New York State Department of Financial Services
("NYDFS") approved virtual currency and money
transmitter license applications.
According to NYDFS, SoFi Digital Assets, LLC ("SoFi")
is now permitted to offer customers in New York the opportunity to
buy and sell virtual currency. Under the licenses, NYDFS stated,
SoFi will also be able to support the following virtual currencies:
Bitcoin, Bitcoin Cash, Ether, Ether Classic, LiteCoin and Stellar
Lumens.
NYDFS reported that since 2015, it has approved 24 virtual
currency licenses or trust charters.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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