BitLicense

Bitget to List PayPal USD (PYUSD): A New Era of Compliance in Crypto Trading

Retrieved on: 
Tuesday, September 26, 2023
Ethereum, Crypto.com, Paxos Trust Company, Financial services, PayPal, USDC, BitLicense, New York State Department of Financial Services, United States Department of the Treasury, Cryptocurrency, Kraken, Bitget, Coinbase

The daily trading volume stands at an impressive 1.76 million US dollars, with significant contributions from top exchanges worldwide.

Key Points: 
  • The daily trading volume stands at an impressive 1.76 million US dollars, with significant contributions from top exchanges worldwide.
  • "We are excited to welcome PayPal USD to our platform," said Gracy Chen, Managing Director of Bitget.
  • With PYUSD, traders on Bitget can experience the benefits of a stablecoin that blends cutting-edge technology with rigorous compliance standards, all while enhancing their trading experience."
  • The listing of PYUSD on Bitget signifies a pivotal moment in the crypto trading landscape, one that merges cutting-edge technology with rigorous compliance standards, ultimately empowering traders and enhancing the overall trading experience.

PayPal Launches U.S. Dollar Stablecoin

Retrieved on: 
Monday, August 7, 2023
Ethereum, Central bank, Developer, Paxos Trust Company, Financial services, Friends, Cryptocurrency, Consumer, PYPL, Certified Public Accountant, American Institute of Certified Public Accountants, Paxos, NYDFS, USD, Community business development corporation, AICPA, BitLicense, New York State Department of Financial Services, United States Treasury security, Friction, Merchant, SAN, Comprehension, Growth, Ecosystem, American Institute, Family, O'Hara, U.S. Treasury, Treasury, Security (finance), Online shopping, PayPal, Venmo

SAN JOSE, Calif., Aug. 7, 2023 /PRNewswire/ -- Fully-backed, regulated stablecoins have the potential to transform payments in web3 and digitally native environments. To address that emerging potential, PayPal (NASDAQ: PYPL) today announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD).  

Key Points: 
  • To address that emerging potential, PayPal (NASDAQ: PYPL) today announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD).
  • Starting today and rolling out in the coming weeks1, eligible U.S. PayPal customers who purchase PayPal USD will be able to:
    "The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar," said Dan Schulman, president and CEO, PayPal.
  • As the only stablecoin supported within the PayPal network, PayPal USD leverages PayPal's decades-long experience in payments at scale, combined with the speed, cost and programmability of blockchain protocols.
  • Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal at a rate of $1.00 per PayPal USD.

For the First Time The Tel Aviv Stock Exchange (TASE) Regulates Crypto Trading: Non-Banking Members will Allow their Customers to Transact in Cryptocurrency

Retrieved on: 
Monday, February 27, 2023
Crypto, Financial services, Bank of Israel, State, Digital asset, Ministry, NBM Publishing, European, Tel Aviv Stock Exchange, NYDFS, FATF, Capital Markets Authority of Kenya, BitLicense, NBM, Financial Action Task Force, New York State Department of Financial Services, South Korean International Monetary Fund Agreement, 1997, TEL, Ministry of Finance (Israel), Policy, Bank, Chief economist, Capital market, International Monetary Fund, Israel Securities Authority, NIS, TASE, Fiat, Cryptocurrency

TEL AVIV, Israel, Feb. 27, 2023 /PRNewswire/ -- The Tel-Aviv Stock Exchange (TASE: TASE) publishes today a draft for public comments for approval of the expansion of the authorized activities of Non-Banking Members (NBMs) to include trading in Cryptocurrency.

Key Points: 
  • The Cryptocurrency market has experienced turmoils over the past year, which have brought material changes in Crypto activity, as more regulated institutions take part in this activity.
  • This requires regulation that will mitigate the various risks (operational, legal, cyber and other) that are inherent in Cryptocurrency activity.
  • Within this framework, TASE proposes an amendment to the TASE Rules that will permit NBMs to allow their customers to transact in Cryptocurrency.
  • Upon receipt of comments from the public, the proposal will be submitted for approval by the TASE Board of Directors.

MONI Launches BitGift® with Instant ACH Settlement Powered by Sardine, Streambird, Magic, and Stytch

Retrieved on: 
Monday, August 22, 2022
Bitcoin, Ethereum, Android, Sardine, EU, ETH, NCC, UX, SOC 2, Magic, GLOBE, Health Insurance Portability and Accountability Act, Revolut, Adoption, Financial Action Task Force, Coinbase, II, Friends, BitLicense, NCC Group, Department, FATF, IOS, AVAX, Fraud, Uber, BTC, OTC, Europe Asia Business School, General Data Protection Regulation, Polygon, Financial services, Bolt, New York State Department of Financial Services, DFS, Social media, SOL, ACH, SDK, Marketing, Avalanche, GDPR, Accountability Act, SOC, Compliance, Family, Cryptocurrency, Solana

Social media and marketing efforts have already been underway to build the BitGift brand and to expand its user base.

Key Points: 
  • Social media and marketing efforts have already been underway to build the BitGift brand and to expand its user base.
  • As a result, the BitGift platform is now powered by and leveraged through Sardine, Streambird, Magic, and Stytch.
  • MONI, through BitGift, has contracted with Sardine, which is a platform that provides risk-free ACH, with instant fund settlement.
  • There will be instant account funding and payments using bank ACH that is regulatory compliant with instant bank ACH to crypto purchase.

OLB Group’s Chairman and CEO Issues Open Letter to Shareholders Providing a Status Update on eCommerce Fintech Services and Cryptocurrency Plans

Retrieved on: 
Thursday, May 5, 2022
Professional Services, Security, Technology, Other Technology, Finance, Banking, Omni, Crypto, Ignition, BitLicense, Mining, Ecosystem, Investment, Evance Malenga, FINRA, EBITDA, Miner, POS, NFT, Broker-dealer, New, Mastercard, Natural gas, OLB, Environment, Income, E-commerce, Non-fungible token, Software as a service, Technology, Acquisition, USD, Cryptocurrency, Bank, Online shopping, Financial services, Bitcoin, CBD

OLB will serve Omni commerce stores by bridging Crypto's new payment rails to the existing traditional payment system.

Key Points: 
  • OLB will serve Omni commerce stores by bridging Crypto's new payment rails to the existing traditional payment system.
  • We are currently and will be offering additional services from accepting cryptocurrency payments to lending money to small merchants businesses.
  • This gives them the ability to invest part of their profits and earn money through our services.
  • eVance provides all needs to small businesses through a variety of services which compliment not only the merchant services, but also onboarding any merchant to our ecosystem.

Provenance Technologies, Inc. Secures Both Money Transmitter License and BitLicense by the New York State Department of Financial Services

Retrieved on: 
Friday, February 11, 2022
Professional Services, Security, Technology, Other Professional Services, Finance, Software, Bela, Financial Crimes Enforcement Network, Linden Lab, Blockchain, Internet fraud prevention, Money, PayPal, FINTRAC, Technology, Solution, Credit Suisse, Deutsche Bank, PTI, Non-fungible token, Compliance, BitLicense, Partnership, KPMG, NFT, New York State Department of Financial Services, Financial services, KYC, AML, Robin Hood, Fiat, Organization, Forte, Cryptocurrency, Facebook, Square, Coinbase

Provenance Technologies, Inc. (PTI) , a full-service compliance solution for blockchain technologies and virtual assets, is proud to announce it has secured both a Money Transmitter License and BitLicense from the New York State Department of Financial Services (NYSDFS).

Key Points: 
  • Provenance Technologies, Inc. (PTI) , a full-service compliance solution for blockchain technologies and virtual assets, is proud to announce it has secured both a Money Transmitter License and BitLicense from the New York State Department of Financial Services (NYSDFS).
  • Obtaining both a Money Transmitter License and BitLicense is an important step in this mission.
  • The company meets the highest standards for security, financial crime policies and standards (AML, KYC), tax compliance, and financial integrity.
  • The company has money transmitter licenses (or the appropriate clearance) in all applicable U.S. states and other territories where it operates.

BitOoda Receives New York BitLicense

Retrieved on: 
Thursday, February 10, 2022
Professional Services, Technology, Other Technology, Finance, Consulting, Banking, Adoption, NY, FINRA, SEC, Digital security, CFTC, BitLicense, Professional, DFS, Research, Financial services, Digital, LLC, Financial adviser

BitOoda Digital, a subsidiary of BitOoda Holdings, announced that the New York Department of Financial Services (DFS) has granted the company a Virtual Currency License, also known as the BitLicense.

Key Points: 
  • BitOoda Digital, a subsidiary of BitOoda Holdings, announced that the New York Department of Financial Services (DFS) has granted the company a Virtual Currency License, also known as the BitLicense.
  • With this approval, BitOoda Digital is now allowed to compliantly cover institutional clients in New York and also to establish its headquarters in the global financial center of New York City.
  • BitOoda plans to build the leading sell-side research sales firm, which does not exist in the current digital asset market.
  • About BitOoda: BitOoda Holdings Inc. is a global digital asset financial services platform providing innovative and compliant capital markets solutions for institutional clients.

10 Questions About BitLicense From a Crypto Lawyer

Retrieved on: 
Wednesday, February 9, 2022
Lawyer, LINK, CNBC, DFS, Financial services, New York State Department of Financial Services, BitLicense, Cryptocurrency, Orwellian

In the financial capital of the world, however, there is no feeling of urgency to help these victims.

Key Points: 
  • In the financial capital of the world, however, there is no feeling of urgency to help these victims.
  • The New York State Department of Financial Services (DFS) adopted the BitLicense in 2015 to regulate cryptocurrency exchanges that operate within the state.
  • The BitLicense was supposed to ensure investor protections in the burgeoning cryptocurrency space by mandating BSA/AML compliance.
  • Even worse, the ambiguities surrounding BitLicense applications and enforcement have raised more questions than answers for lawyers attempting to advise clients.

Bakkt Selected by Nexo to Securely Custody Bitcoin, Ethereum

Retrieved on: 
Wednesday, January 19, 2022
Software, Insurance, Finance, Data Management, Professional Services, Technology, Mobile, Wireless, Security, Crypto, Business development, Credit, Financial services, Exchange, LinkedIn, BitLicense, NYSE, Money services business, OTC, Financial Crimes Enforcement Network, Architecture, LLC, Partnership, Cryptocurrency, Intercontinental Exchange, Ethereum, Nexø, Bakkt, Nexo, BAKKT, NEXO

The cryptocurrency market continues to expand at a robust pace, leading reputable crypto companies to diversify custody of assets.

Key Points: 
  • The cryptocurrency market continues to expand at a robust pace, leading reputable crypto companies to diversify custody of assets.
  • We are pleased that Nexo has chosen the Bakkt Warehouse as a trusted solution, said Dan OPrey, Chief Product Officer, Crypto at Bakkt.
  • Bakkt is a trusted digital asset platform that enables consumers to buy, sell, store and spend digital assets.
  • Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/
    Nexo is the worlds leading regulated digital assets institution.

NYDIG Subsidiary Bottlepay Becomes the First Lightning Company to be a Registered Cryptoasset Business with the FCA

Retrieved on: 
Tuesday, January 11, 2022
Financial Conduct Authority, Financial services, New York State Department of Financial Services, Lightning Network, Achievement, API, History of bitcoin, FCA, Twitter, Lightning, Compliance, United Kingdom, BitLicense, Cryptocurrency, Bitcoin, Discord

Bottlepay is one of a small number of cryptoasset firms to have secured such approval and is the first Lightning Network payments company to have done so.

Key Points: 
  • Bottlepay is one of a small number of cryptoasset firms to have secured such approval and is the first Lightning Network payments company to have done so.
  • FCA registration requires firms to demonstrate that they comply with the UK's anti-money laundering and counter-terrorist financing regulations.
  • "Our registration with the FCA is an achievement not just for Bottlepay, but for the Lightning Network," said Bottlepay founder Pete Cheyne.
  • By harnessing the power of Bitcoin's Lightning Network, Bottlepay is building a global and open instant payment network.