NYDFS Authorizes Virtual Currency Firms

The New York State Department of Financial Services ("NYDFS") granted virtual currency licenses to Robinhood Crypto LLC ("Robinhood Crypto"), a subsidiary of Robinhood Markets Inc., and Moon Inc., d/b/a LibertyX ("LibertyX").

NYDFS authorized Robinhood Crypto to buy, sell and store seven virtual currencies, including Bitcoin, Ether, Bitcoin Cash and Litecoin. LibertyX is the first firm authorized by the NYDFS to allow customers to use debit cards to purchase Bitcoin from ATM machines.