cryptocurrency

New York awards its latest BitLicense to Tagomi Trading LLC – Chepicap


New York Department of Financial Services (NYDFS) has announced that it has officially granted its 18th BitLicense, this one going to Tagomi Trading LLC, an institutional crypto trading and brokerage firm.

The NYDFS officially passed crypto regulations in 2015, and since that time have approved 18 BitLicenses for business to engage in crypto-related business. Tagomi Trading LLC being the latest, they have also received a standard money transmission license, meaning they are ready to offer crypto brokergage services to institutional grade customers.

CEO of Tagomi Trading LLC, Greg Tusar, is quoted in the press release:

“We are excited that DFS has approved our application as New York’s first agency brokerage for virtual currencies. Our team of industry veterans has developed our order routing services with sophisticated clients in mind, and we look forward to expanding our presence with New Yorkers. We appreciate the DFS’s thorough review and careful approach to virtual currency market participants to make for a more transparent and equitable virtual currency landscape.”

New York stands as a good example of how cryptocurrency regulation does not need to stifle industry, though some have argued it can hurt smaller operations. Who will be next to be granted a BitLicense? Stick with Chepicap for all updates!

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