NYDFS is granting more BitLicenses than ever before, 8 already this year

Quick Take

  • BitLicense went into effect on June 2015 and immediately generated criticism for being too invasive, cumbersome, and expensive to obtain; especially for smaller companies
  • On top of the $5,000 non-refundable application fee, the whole process costs companies up to $100,000
  • In 2018, NYDFS granted six BitLicenses; more than the sum of the previous three years. In 2019, it’s already granted eight
New York State Department of Financial Services (NYDFS) this week has  approved its 18th BitLicense application, its eighth already this year. After a slow start amid controversy, the number of granted licenses has been on the rise. Source: The Block BitLicense is a set of regulations issued by the NYDFS which are mandatory for any […]

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