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.
Singapore, Singapore, 19th September 2024, Chainwire
Grand Cayman, Cayman Islands, 12th September 2024, Chainwire
Warsaw, Poland, 20th August 2024, Chainwire
Singapore, Singapore, 20th August 2024, Chainwire
Grand Cayman, Cayman Islands, 26th July 2024, Chainwire
As usual, the crypto market is keeping everyone guessing what could happen next. After an…