BitPay Granted ‘Virtual Currency License’ in New York

[kreslik.news]

Leading bitcoin payment processor BitPay was awarded a coveted license to deal in cryptocurrencies in New York.

BitPay was granted a so-called Virtual Currency License by the New York State Department of Financial Services (NYDFS), becoming only the eighth such firm to win approval to operate in the state.

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BitPay is a payment processor for Bitcoin and Bitcoin Cash. The company specialize in setting up merchant accounts to accept cryptocurrency payments.

BitPay gained the license after the NYDFS scrutinized company’s anti-money laundering, anti-fraud, capitalization, consumer protection, and cybersecurity policies.

The company further added that ... (read more)