Virtual currency agency broker Tagomi gets NY licenses

The New York State Department of Financial Services (DFS) has approved the application of Tagomi Trading for a virtual currency and money transmission license. The virtual currency agency brokerage can engage in money transmission and offer trade routing and order execution services for non-securities virtual currencies, including bitcoin, ether, bitcoin cash and liteCoin. Tagomi is an institutional-grade aggregation platform for trading virtual currency assets at scale and executes trades across multiple liquidity venues.

DFS has approved the applications of 18 companies, and the authority said it was committed to supervising and promoting financial services market innovations by licensing technology-based money transmitters under New York’s money transmitter law; online lenders under New York’s banking law; and virtual currency exchanges under New York’s financial services law.

Read the full release

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