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PewDiePie enters cryptospace, Antonopoulos on Bitcoin and more – AMBCrypto News


Bitstamp, a cryptocurrency exchange based out of Luxembourg, announced on its official website that the exchange was granted a BitLicense. This will allow Bitstamp to continue providing crypto trading services in the United States and improve the exchange’s overall presence in the country.

Linda A. Lacewell, Acting Financial Services Superintendent of New York State Department of Financial Services [DFS], stated,

“We are pleased to welcome Bitstamp to New York’s growing virtual currency marketplace. A regulated industry protects customers while supporting innovation and ensuring our financial services sector is a vibrant part of New York’s economy.”

The exchange is now authorized to offer services, providing its users with the ability to buy and sell Bitcoin [BTC] along with various other cryptocurrencies. The license also enables Bitstamp USA to facilitate transfers of funds onto the Ripple Network, issuing Ripple balances in USD, with other virtual and fiat currencies.

Bitstamp is one of the few exchanges that facilitate xRapid payment paths or Ripple Gateways, which provide an entry point into the Ripple Network. The announcement further hinted at the exchange being granted the license to use the XRPL decentralized exchange for utilization.

With the legal backing of the Financial Services, Bitstamp will now be able to issue fiat-backed and crypto-backed IOUs [tokens issued on the platform that are redeemable for a fungible asset such as USD, gold or crude oil].

Nejc Kodrič, CEO of Bitstamp, expressed his delight, stating,

“Bitstamp has always embraced regulatory efforts that focus on transparency and accountability to help expand the industry and bridge the gap between the traditional financial and cryptocurrency worlds.”

After the announcement, a Twitter user @Ticketothemoon, posted a query and asked,

“Wasn’t buying XRP from Bitstamp already an option in the U.S?”

Bitstamp responded to this query,

“You’re right, it was, and this license will enable us to continue providing crypto trading services and ramp up our presence in the US.”

XRP enthusiast, @XrpCenter gave its opinion on the announcement and stated,

“To be clear, this means that Bitstamp, as a separate and independent company, has been granted with an authorization to use the XRPL Decentralized Exchange to 1) Issue fiat-backed and crypto-backed IOUs. 2) Handle payments. It is not the XRPL, per se, what has been regulated.’



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