(DFS) has licensed a number of crypto-money platforms to operate in the country
While the bearish trend, which has lasted for the past year, has reduced the prices of the crypto money in the market significantly, we see that the ecosystem continues to develop without slowing down. Altcoins’ teams and crypto-money platforms continue to work at full speed. As a result, the adoption of this innovative asset class is on the rise. The New York Financial Services Agency (DFS), one of the US financial regulators, also contributed to the pace of adoption with its recent move.
In an announcement issued by DFS on Thursday (January 24th), the crypto-money trading platforms reported a license to Robinhood and LibertyX . This license, called BitLicense , allows crypto-currency transactions in New York state. BitLicence was first issued by DFS in 2015.
Robinhood, which is eligible for BitLicense, will be able to process seven different crypto money. These cryptaes include the market leading elements such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) . On the other hand, a report published in Cointelegraph said that Robinhood was also awarded by DFS to receive a money transmission license.
Various sources have announced that the Robinhood platform in the past summer was intended to acquire a US banking license. In February, the platform offering free crypto money to the service of its users had reached more than 1 million users in a short time . The team later announced that they will raise $ 363 million to raise the platform.
Following the abstaining report issued by the IMF against crypto coins, this news from DFS made users laugh. You can reach the news published about the IMF here and share your comments about the developments with us.