Categories: Bitcoin News

Cash App obtains NY ‘BitLicence’

Square which also holds a money-transmitter licence, has become the ninth firm to receive the so-called ‘BitLicence’ from the NYDFS and it will trade Bitcoin through its Cash App.

An in-depth review was carried out before granting the licence, the NYDFS reports, which adds that it also took a close look at the firm’s anti-money laundering, anti-fraud and cybersecurity policies.

Dorsey says the decision to trade Bitcoin through the app has been a “pretty contentious move within the company” and that it is currently still a source of internal tension.

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.

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