Sunday , July 3 2022

New York will launch the first BitLicense to operate the ATMs CryptoNews ATMs


From 2015, New York has been able to meet the requirements for digital home operations, such as the Square, Xapo and Coinbase.

On this occasion, some of the authorities' requests for validation of CoinSource as a bank ATM operator in the state were implemented and controlled by appropriate risk controls and operational policies to prevent money laundering and terrorist financing; to carry out risk controls to prevent misuse of the battle, such as sponsorship of illegal activities and market manipulation, in line with a handbook on the prevention of these factors published by the DFS at the beginning of this year; monitor transactions and ensure computer security and finally protect the customer and support claims on this. The publication states that if DFS believes that CoinSource does not meet the conditions, the license granted may be canceled.

Initial request to use BitLicense to enable cryptos, caused mass exodus by companies the ecosystem of cryptocurrences at that time, which is the subject of regulation review and controversy from the community.

This dispute is mainly associated with a former DFS superior who is responsible for designing and promoting entry into force Virtual Currency License, Benjamin Lawsky retired from public administration shortly after Bitlicense's approval to set up a consulting firm focused on consulting companies interested in acquiring BitLicense.

Despite the criticism of some ecosystem companies, they have shown that traditional regulatory conditions adapted to crypto-business companies, are sufficiently acceptable to continue to participate in the market sharing the premises with Wall Street.

However, these same companies expressed concern about the lack of clarity in US regulation. A few weeks ago, representatives of 80 cryptographic companies met with the United States Congress to state that without its own regulation the American market would lose the advantage it currently retains.

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