Coinsetter submits BitLicense application to legally accept clients in New York State
Unlike exchanges who have decided to leave the state instead of complying with regulatory licensing, New York-based bitcoin exchange Coinsetter has submitted the BitLicense application to the NYDFS to continue servicing its customers.
Coinsetter, the global bitcoin exchange for active traders headquartered in New York City, today announced that the company has submitted an application for the BitLicense with the New York Department of Financial Services. Coinsetter is now authorized to legally service New York customers during the application review process, and New York residents are welcome to open an account.
This action highlights Coinsetter’s commitment to providing sustainable coverage to New York customers. Coinsetter CEO Jaron Lukasiewicz said, “While we serve a global user base of bitcoin traders, New York has long been Coinsetter’s home. We are happy to announce that Coinsetter will continue to be headquartered in New York City, a global capital of banking and financial technology, and to serve customers throughout New York State.”
Lukasiewicz added, “While sometimes a controversial topic in our industry, regulatory licensing is a requirement for bitcoin exchanges in some states. Fulfilling our licensing requirements plays an important role in providing sustainable service to customers over the long term. Some exchanges have decided to discontinue operations in New York. We will take a more difficult path in order to make sure New York residents continue to have a high quality bitcoin exchange available to them.”
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