Galaxy obtains BitLicense in New York State, allowing it to legally conduct cryptocurrency business in New York

According to The Defiant, cryptocurrency financial services company Galaxy has obtained a BitLicense issued by the New York State Department of Financial Services (NYDFS).

It is reported that the BitLicense is one of the strictest licenses for cryptocurrency regulation at the state level in the United States, with very high requirements for applicants in terms of compliance, capital, and operations. After obtaining this license, Galaxy can legally provide cryptocurrency-related services in New York State, including trading, custody, and other businesses.