New York State Department Of Financial Services Grants Virtual Currency License To Bitpay, Inc.

Jeff Bergstrom

Jeff Bergstrom


New York State Department Of Financial Services Grants Virtual Currency License To Bitpay, Inc.
Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of BitPay, Inc. for a virtual currency license. BitPay is authorized to offer clearing and settlement services to merchants willing to accept payment in bitcoin or issue payments in bitcoin, and is the first wholesale payments processor to be approved for a license.

Coinbase Says It Has Green Light to List Coins Deemed Securities
Lily Katz – Bloomberg
SEC, Finra sign off on deals that give firm federal licenses; Company is exploring addition of five new digital tokens
Coinbase Inc., one of the most popular cryptocurrency platforms, said it got the green light from U.S. watchdogs to move forward with a trio of acquisitions that will allow it to become one of the first federally regulated venues for trading digital coins deemed to be securities.

BlackRock’s Fink Says Clients Aren’t Looking to Buy Cryptocurrency
Bloomberg Surveillance
Larry Fink, chairman and chief executive officer at BlackRock, discusses the firm’s examination of blockchain and clients’ appetite for cryptocurrency. He speaks with Bloomberg’s Erik Schatzker on “Bloomberg Surveillance.” (Source: Bloomberg)

World’s First Bank-Backed Crypto Exchange Finally Opens to the Public
Wolfie Zhao – Coindesk
The world’s first bank-backed cryptocurrency exchange is now open to the public after months of delays. Japanese financial giant SBI Holdings formally launched its in-house crypto trading platform, dubbed VCTRADE, last month. Yet, as reported by CoinDesk at the time, the trading service was only available for a group of selected users who pre-registered with the platform last October.

Cryptomining Companies Consider Broadening Scope; As the price cryptocurrencies drop, some miners are searching for alternative uses for massive data centers they’ve built.
Joshua Brustein – Bloomberg
Harry Pokrandt spent the last year scouring the earth for real estate with two main characteristics. He needed cold weather, to keep his computer servers cool, and cheap electricity, to keep them running 24 hours a day. Pokrandt’s company, Hive Blockchain Technologies, filled up a Cold War-era helicopter hangar in Sweden with servers, then constructed a building of its own in Norway and filled that one up, too.

Canada’s Only Actively Managed Crypto Fund Is 90% in Cash
Kristine Owram – Bloomberg
Manager is closely watching Bitcoin’s 30-day moving average; Sees the currency hitting new highs in next couple of years
Cash is king for Canada’s only actively managed crypto fund. The Rivemont Crypto Fund, run by Rivemont Investments, had about 91 percent of its C$3 million ($2.3 million) of assets in cash as of July 13, with the remaining 9 percent in Bitcoin, according to its latest weekly update on Facebook.

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