bitlicense

The trading platform eToro announced the official launch of cryptocurrency trading services in New York, approximately three years after obtaining the BitLicense. The first batch will include about 20 cryptocurrencies, with plans to gradually expand to more tokens and introduce features such as staking.In contrast, eToro typically offers over 100 cryptocurrencies for trading in other global markets. eToro obtained the BitLicense issued by the New York State Department of Financial Services in February 2023. This license has been strictly regulated since its introduction in 2015, with fewer than 40 institutions approved, and not all licensed companies actually conduct business. The company stated that regulatory scrutiny has significantly increased following the FTX incident, leading to an extended launch timeline.

According to Crowdfund Insider, the social trading platform eToro (NASDAQ: ETOR) has announced that residents of New York can now trade cryptocurrencies on its platform. This opening follows the company's successful acquisition of a BitLicense (cryptocurrency operating license) and a money transmission license in New York, making eToro available for cryptocurrency trading in 48 states across the United States.Andrew McCormick, head of eToro's U.S. division, stated, "New York is the heart of the financial markets and a hub of innovation. Completing our comprehensive layout in the U.S. is both a strategic milestone and a reflection of our commitment to responsibly advancing the next generation of financial market accessibility." It is noteworthy that eToro reached a settlement with the U.S. Securities and Exchange Commission (SEC) in 2024, paying a $1.5 million fine for operating as an unregistered broker and clearing agency. Subsequently, the company delisted most cryptocurrency assets from its U.S. platform and readjusted its compliance strategy.

The Bitcoin payment application Strike has officially announced that it has obtained a BitLicense from the New York State Department of Financial Services, allowing it to conduct cryptocurrency services in the area.Strike also previously announced the launch of a Bitcoin-backed credit limit service, enabling users to borrow fiat currency in real-time for lightning payments or bill payments. Currently, this service supports low-threshold lending and will initially launch in Georgia and Massachusetts, with plans to expand to more states in the U.S. later.

ChainCatcher news, according to PRNewswire, the cryptocurrency trading platform Bullish announced that after obtaining the BitLicense issued by the New York State Department of Financial Services (NYDFS), the company's services are now live in 20 U.S. states, including Washington D.C., Arizona, Arkansas, California, Colorado, Delaware, and more.In addition, Bullish also disclosed that its platform has surpassed a cumulative trading volume of over $1.5 trillion since 2021.

ChainCatcher news, due to better-than-expected performance in the second quarter, strong IPO momentum, and accelerated growth in SS&O, Citigroup has raised the target price for cryptocurrency exchange Bullish to $70. Citigroup stated that the long-awaited approval of the BitLicense by the New York Department of Financial Services (NYDFS) has removed a key regulatory hurdle and boosted investor confidence. Citigroup also reiterated its buy rating, stating that the company has highly attractive operating leverage.

ChainCatcher news, according to CoinDesk, the New York Department of Financial Services has granted a virtual currency business activity license to Bullish US Operations LLC, allowing it to offer spot trading and custody services to institutional and high-frequency traders in New York.The trading platform is currently regulated in the United States, Germany, Hong Kong, and Gibraltar, positioning itself as an institutional-grade liquidity venue that combines a central limit order book with automated market making. This license approval will aid its expansion in the U.S. market.

ChainCatcher news, according to CoinDesk, Wall Street firm Rosenblatt Securities stated in a research report released on Monday that it has given Bullish its first Buy rating with a target price of $60. Although Bullish has not yet provided services to U.S. clients, its annual trading volume has exceeded $500 billion.Additionally, Canaccord Genuity has also begun to focus on Bullish, giving it a Buy rating and a target price of $68. Analysts believe that Bullish has obtained licenses in Europe and Asia and is expected to soon acquire a BitLicense, thereby opening up to U.S. institutional clients.

ChainCatcher news, encrypted journalist Eleanor Terrett posted on the X platform that MoonPay has obtained the New York BitLicense, paving the way for the company to serve customers in all 50 states of the U.S.It is reported that a few companies currently holding this license include Anchorage Digital, Coinbase, and Circle.

ChainCatcher news, according to The Block, cryptocurrency custodian Anchorage Digital announced that the New York State Department of Financial Services (NYDFS) has issued a BitLicense to its subsidiary Anchorage Digital NY, LLC. This approval enables Anchorage Digital to provide secure and efficient cryptocurrency trading for institutions in New York State, with full functionality expected to be achieved by early 2025.

ChainCatcher news, according to CoinDesk, digital asset trader and liquidity provider Cumberland DRW announced on Monday that the New York State Department of Financial Services (NYDFS) has granted it a virtual currency license, BitLicense.It is reported that Cumberland is a subsidiary of the high-frequency trading firm DRW based in Chicago. Earlier this year, Fidelity chose Cumberland to trade Bitcoin for its Bitcoin spot ETF.