The New York State Department of Financial Services (DFS) has approved the application by the US subsidiary of bitcoing exchange Bitstamp for a virtual currency license. Since 2015, DFS has approved the applications of 19 companies.
Bitstamp USA is now authorized to offer services providing its customers with the ability to buy and sell bitcoin, along with select other virtual currencies, for USD and vice versa. It’s also authorized to facilitate transfers of funds onto the Ripple Network, issuing Ripple balances in USD, other virtual currencies, and select fiat currencies, including the Australian dollar, British pound, euro, Swiss franc, and Japanese yen.
Nejc Kodrič, CEO of Bitstamp, said in a statement that the bitcoin exchange “has always embraced regulatory efforts that focus on transparency and accountability to help expand the industry and bridge the gap between the traditional financial and cryptocurrency worlds.”