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New York's Financial Services Department (NYDFS) has awarded its latest BitLicense to crypto-brokerage startup Tagomi Trading LLC.
Announced this Wednesday, it is the 18th such license issued since the NYDFS finalized its controversial regulatory regime for virtual currency activities in 2015.
According to a NYDFS press release, Tagomi also is granted a traditional license to transmit funds by the state.
Managing Director Greg Tusar said in a statement that this approval meant that Tagomi would be "the first agency agency for virtual currencies in New York", meaning that transactions will be executed on behalf of customers in bitcoin, ether, bitcoin cash and litecoin. the best prices available as soon as possible.
Tusar added:
"Our team of industry veterans has developed our order routing services with sophisticated customers in mind and we look forward to expanding our presence with New Yorkers."
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Previously, Tagomi had raised $ 12 million to provide prime brokerage services (ie highly interactive) to hedge funds investing in cryptocurrencies. The startup was put online in December.
The company will "promote transparency" with its services, said Tagomi's legal adviser, Dhawal Sharma, in a statement.
With its new virtual currency license, Tagomi is partnering with the Coinbase and Gemini exchange exchanges; market maker Genesis Global Trading; Ripple and Square startups payments; the Robinhood investment company; and Bitcoin ATMs Coinsource and Cottonwood Vending.
In a statement, NYDFS acting director Linda Lacewell reiterated the department's earlier comments about the agency's commitment to "foster innovation and strengthen the competitiveness of the burgeoning virtual money sector." At New York".
Image of New York via Shutterstock
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