- Bitstamp was among the first 22 applicants to be granted the coveted License.
- The license gives Bitstamp the opportunity to offer several digital assets for buying and selling.
One of the leading European cryptocurrency exchanges Bitstamp recently received the sought-after BitLicense grated by the New York Department of Financial Services (NYDFS). Following the receipt of the license, Bitstamp is now looking forward to expanding into the massive United States cryptocurrency market.
A report published by CoinDesk said that the exchange received the 19th license issued by the state. The license gives Bitstamp the opportunity to offer several assets for buying and selling. The assets include Bitcoin, Ethereum, Bitcoin Cash as well as Ripple (XRP).
Reports say that Bitstamp was among the first 22 applicants to be granted the coveted License. The exchange company filed the application in June 2015 just after NYDFS put the law in place. In the initial years, only a few licenses were granted. However, lately, the regulator has increased the number of Licenses it is issuing.
Nejc KodriÄ, Bitstamp’s CEO said in regards to the new development:
“There were questions all around how the matching engine works, how we store crypto, how we [conduct] audits. The license is a set of rules and procedures you have to follow on a daily basis, so once you do that you can [receive a BitLicense].”
According to KodriÄ, the regulations in New York do not vary so much from those on European markets and that the exchange is now seeking to expand to new markets in the US.
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