The New York State Department of Financial Services (NYDFS) today issued a public announcement that it will consider formal proposals and applications in connection with the establishment of regulated virtual currency exchanges. We view the NYDFS’s announcement as a positive step forward in enabling US traders to trade bitcoin on domestically located exchanges. Furthermore, it will create a regulatory framework that allows bitcoin to grow as a technology.
Coinsetter is pleased to announce that we will soon be submitting an application for a BitLicense. If accepted, our regulatory licensing will allow us to offer a fully compliant trading platform with US banking options. Many users have reached out to us about our ability to accept ACH deposits, domestic wire transfers, and other US banking services. This licensing will enable us to accomplish all of that and more. We are excited to work with the NYDFS to bring a safe and transparent bitcoin exchange to the US market.