Payment solutions provider Square has received for the seventh consecutive Regulations – a special license authorizing the conduct of activities in the territory of the state of new York. This is stated in the message of Department of financial services of the state of new York (NYDFS).
Grants DFS Virtual Currency License to Square, Inc. https://t.co/IQOR97iWPF
— NYDFS (@NYDFS) 18 June 2018
“DFS is pleased to approve and Square to welcome in the growing and well-regulated market of virtual currencies in new York. DFS continues to support a dynamic and competitive market, while ensuring strong state control”, — said the superintendent of the Department Maria Vullo.
According to NYDFS, the Agency conducted a comprehensive analysis of the application Square, including part of company policy for combating money laundering and fraud, its market capitalization, consumer protection and policy of cybersecurity. New the licensor shall be subject to the permanent supervision of the Department.
“We are thrilled with our Cash App the citizens of new York will be the fastest and easiest way to buy and sell bitcoins”, — said the head Cash App by Bryan Grassadonia.
In January, Square has made buying and selling bitcoins available for almost all US citizens, with the exception of Wyoming, new York and two other States where the regulations are particularly strict. Application for Regulations the company filed in March.
We will remind, last week the Regulations became a Swiss provider of bitcoin wallet Xapo. Such licenses have Genesis Global Trading, bitFlyer, Coinbase, Ripple, and Circle. In addition, special permits for operations with cryptocurrency have exchange Gemini and itBit.
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