Bitstamp, a long-standing EU based bitcoin and crypto exchange, announced today that the New York State Department of Financial Services (DFS) has granted the company a BitLicense. This allows Bitstamp to continue providing crypto trading services in the US and paves the way for expansion in the States.
The BitLicense requires Bitstamp to meet several stringent requirements when it comes to consumer protection. The license a testament that the trading at Bitstamp is subject to the same high standards followed by traditional financial institutions.
“Bitstamp has always embraced regulatory efforts which focus on transparency and accountability that can help expand the industry. Obtaining a BitLicense is a key element in ramping up our presence in the United States, especially when it comes to working with institutional investors. Since we opened our doors in 2011, we’ve strived to not only be the most secure and trusted crypto exchange in the world, but to shape new frontiers for the industry by developing best practices in security and self-regulation. We look forward to carrying the lessons we’ve learned in Europe over the ocean and helping to develop a better environment for all crypto businesses, both in the US and worldwide.”
In 2016, Bitstamp Europe S.A. was granted a payment institution license, which was passported across all 28 European Union countries. Bitstamp now becomes the 19th company to be granted a Virtual Currency License (BitLicense) by the New York State DFS.
Bitstamp recently announced several major upgrades for the exchange, including incorporating Cinnober’s TRADExpress Trading System, a new and faster WebSocket solution, a new mobile app and the launch of a new trading interface later this month.