Regulatory TREND. 5 Activities Requiring BITLICENSE in NY

NY Department of Financial Services requires a bitLicense for any of the following acitivities:

• Virtual currency transmission
• Storing, holding, or maintaining custody or control of virtual currency on behalf of others
• Buying and selling virtual currency as a customer business
• Performing exchange services as a customer business
• Controlling, administering, or issuing a virtual currency
   

BitLegal | The New York Department of Financial Services (NYDFS), grants a virtual currency (VC) license to fintech company Square Inc.