A resounding judgement – DFS grants bitlicense to crypto custodian

Even when there are so many pacifists clinging on to the same motto, there will be some organization to make purging their hope. The New York Department of Financial Services (NYDFS) has issued a Bitlicense to NYDIG Execution LLC, a subsidiary of New York Digital Investment Group (NYDIG LLC). The digital assets covered by the custody service BitLicense include BTC, BCH, ETH, XRP, and LTC. NYDFS said in a statement that “As the financial services marketplace continues to expand and evolve in New York, the implementation of strong regulatory safeguards that encourage the responsible growth of the industry, while first and foremost protecting consumers remains critical.” Despite public resistance from several members of the blockchain and cryptocurrency community, New York’s BitLicense program appears to be picking up steam as more organizations come onboard with the regulator.