Breakthrough: New Yorkers can buy bitcoins at ATMs

New Yorkers will now be able to buy bitcoins from traditional ATMs with their debit cards. With a new license granted by the Regulator of New York, LibertyX becomes the first licensee Offering Debit Card Bitcoin Options to Residents of New York State.

Bitcoin LibertyX payment service provider launched the first Bitcoin ATM in 2014. Since then, it has provided thousands of local stores with Bitcoin payment options. The start-up teamed up with Genmega in 2018 to launch the first Bitcoin ATM in the US, extending Bitcoin's purchases 100,000 ATMs Across the country.

To use a debit card, users need a LibertyX account via the mobile application. Approved account holders can purchase up to $ 3,000 worth of Bitcoin per day.

According to this announcement, the Financial Services Department of the State of New York (DFS) intends to become a leader in fintech innovation.

"DFS continues to respond quickly and responsibly to the innovations of the financial services market by licensing technology-based issuers of money under the New York Currency Act; online lenders governed by the New York Banking Act; and virtual currency exchanges under the New York Financial Services Act. To date, DFS has approved sixteen charters or licenses for virtual money market businesses. "

The license provides regulatory certainty for LibertyX to operate in New York, a luxury for many blockchain developers and companies. Such clarity has escaped Bitcoin entrepreneurs who operate similar businesses in other countries and jurisdictions. In India, for example, two businessmen were arrested by police last October for trying to set up a Bitcoin ATM.

DFS also licensed Robinhood Crypto, allowing residents of New York to buy, sell and store cryptocurrencies using the company's mobile app.

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