NYDFS Approves Software Company's Virtual Currency and Money Transmitter Application
The New York State Department of Financial Services ("NYDFS") approved virtual currency and money transmitter license applications.
According to NYDFS, SoFi Digital Assets, LLC ("SoFi") is now permitted to offer customers in New York the opportunity to buy and sell virtual currency. Under the licenses, NYDFS stated, SoFi will also be able to support the following virtual currencies: Bitcoin, Bitcoin Cash, Ether, Ether Classic, LiteCoin and Stellar Lumens.
NYDFS reported that since 2015, it has approved 24 virtual currency licenses or trust charters.
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