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NYDFS Grants Virtual Currency Licences

The New York State Department of Financial Services ("NYDFS") granted virtual currency licenses to Seed Digital Commodities Market LLC ("SCXM") and Zero Hash LLC ("Zero Hash"), both subsidiaries of Seed CX Ltd.

NYDFS authorized SCXM to serve as a "matching engine" for institutional buyers and sellers of cryptocurrencies, and a platform for cryptocurrency block-trades. Zero Hash will serve as the money transmitter for the trading activity that comes from SCXM.

Primary Sources

  1. NYDFS Press Release: DFS Grants Licenses to Seed CX Companies to Provide Virtual Currency Services for Institutional Customers

Tags

Regulated Activities
Registration Process
Regulated Entities
Other Financial Firms
Sub-Entity
Money Service Businesses
Regulated Products
Digital Assets
Body of Law
Banking Law
Jurisdiction
States
Organization
States
Sub-Author
NYDFS