According to the announcement, New York State Department of Financial Services (DFS) has approved the application of New York Digital Investment Group LLC (NYDIG) for a crypto license.
BitLicense is a regulation framework for activities involving digital assets that is issued by DFS. In order to control cryptos like bitcoin, the framework covers those startups which are located, reside or have a business place in NY.
The CEO of New York Digital Investment Group, Robert Gutmann, said:
“NYDIG is pleased to receive these regulatory approvals and we look forward to providing secure and transparent liquidity, custodial and asset management services to the institutional market. We want to express our gratitude to the NYDFS for providing a clear and comprehensive regulatory framework for investors, providers and users alike to engage with the burgeoning digital asset ecosystem.”
Earlier, DFS issued BitLicense for bitcoin ATMs operator Coinsource. The company is known for the fast operation of its ATMs through a proprietary system for user verification.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.