Bitstamp expands into the US market with BitLicense, one of the oldest cryptocurrency exchanges in Europe, Bitstamp, this Tuesday became the nineteenth licensee of the New York regulator BitLicense, thanks to which it will be able to provide the ability to trade Bitcoin, Litecoin, Bitcoin Cash, Ethereum and XRP to residents of the region. Bitstamp filed an application for a license simultaneously with the adoption of the relevant legislation in June 2015, thus becoming one of the first 22 applicants.

Bitstamp Expands In US Market With BitLicense

One of the oldest cryptocurrency exchanges Bitstamp's Europe this tuesday became the nineteenth licensee of the New York regulator BitLicense, thanks to what is she will be able to provide an opportunity bitcoin trading, Litecoin, Bitcoin Cash, Ethereum and XRP to residents of the region. Bitstamp filed an application for a license simultaneously with the adoption of the relevant legislation in June 2015, thus becoming one of the first 22 applicants.

Although in the early years the Department financial services The state of New York was reluctant to issue licenses to cryptocurrency companies; recently, the regulator has noticeably softened its position and accepted several representatives of the industry into its jurisdiction. FROM beginning of the year the primary brokerage service Tagomi, the Robinhood trading application, as well as the bitcoin-ATM operators Cottonwood Vending and LibertyX were licensed.

According to Bitstamp CEO Nejc Kodrich, his company discussed various aspects of the trading platform with the regulator: “There were issues related to the mechanism for matching orders, storing cryptocurrency, and conducting audits. A license is a set of rules and procedures that must be followed on a daily basis. ".

Earlier, Bitstamp received a license of a payment institution in the EU, thanks to which it can officially provide its services to residents of 28 countries. "BitLicense is not much different from the financial services license that we have in Europe," added Kodrich.

Now the exchange, which already has some presence in the American market, intends to expand its sphere of influence, while before completing the necessary procedures in accordance with the requirements of the BitLicense, it held a "passive" position.

Late last year, the South Korean conglomerate NXC became the new owner of Bitstamp. Kodric retained a smaller stake and continued to run the exchange.

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