12/11/2019, 6:55 PM (Source: TeleTrader)
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New York State to ease BitLicense regulation

The New York State Department of Financial Services (NYDFS) announced on Wednesday that it plans to update its policy on cryptocurrencies. According to a proposition, licensed virtual currency companies with valid approvals for coin listings will be allowed to trade new coins without applying for additional permits.

"It's more than time to take another look at the virtual currency regulation given the passage of time, changes in the industry, maturation, sophistication and new business models," NYDFS' Superintendent Linda Lacewell stated.

Previously, New York State revealed its original BitLicense regulation in 2015 which foreseen two dozen licenses and charters to virtual currency firms, while those companies needed to apply for new coins paperwork separately. BitLicense holders will have an opportunity to consider a proposal until January 2020.

Breaking the News / GA