Brad Chillum
Japanese bitcoin exchange bitFlyer has officially launched in the US after receiving approval from New York State Department of Financial Services (NYDFS).
According to nydaily.com, before granting the license, state officials reviewed the company’s anti-money laundering, capitalization, consumer protection, and cyber security policies.
The move by the Department of Financial Services allows bitFlyer USA to offer online digital currency exchanges, trading platforms and custodial wallet services for the Bitcoin digital currency.
Financial Services Superintendent Maria T. Vullo said:
As New York’s financial services regulator, DFS’s mission is to encourage innovation while protecting markets and consumers.
As the virtual currency market expands, New York will continue to support technological innovation while enforcing strong state-based regulation.
BitFlyer is the sixth firm to receive a virtual currency license or charter from the state. Licenses have previously been given to Coinbase Inc., XRP II and Circle Internet Financial, and charters to Gemini Trust Company and itBit Trust Company.
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