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NYDFS Authorizes Digital Currency Exchange to Offer Custody Services

The New York Department of Financial Services ("NYDFS") authorized Coinbase, a digital currency exchange, to operate as a limited purpose trust company in New York. NYDFS also approved Coinbase Trust to offer secure custody services for Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin.

Primary Sources

  1. NY Department of Financial Services: DFS Authorizes Coinbase Global, Inc. to Form Coinbase Custody Trust Company LLC, Approves Coinbase Trust to Offer Custody Services for Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin

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Tags

Regulated Activities
Registration Requirement Custody
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