Seed CX gets great opportunity in New York
There has been another BitLicense that was granted by the New York DFS. According to the Financial Service Superintendent, Linda A. Lacewell. This was announced today at the New York State Department of Financial Services (DFS). And has approved the applications of the Seed Digital Commodities Market LLC along with Zero Hash LLC for the virtual currency license.
Both these two companies are subsidiaries of Seed CX Ltd. After its nomination to lead the DFS back in February. The superintendent Lacewell has now approved four virtual currency licenses.
According to the superintendent Lacewell:
“We are pleased to have approved over 20 virtual currency businesses and welcome Seed Digital Commodities Market and Zero Hash to New York growing virtual currency marketplace.”
This approval of the BiLicense from the Department will provide institutional customers with more choices, while also protecting consumers and the pubic from any anti-money laundering. Including cybersecurity along with other compliance standards in a continuously evolving global financial service marketplace with crypto and blockchain developments.
BitLicense requirements in New York
The DFS has authorised the SCXM that will be used to give buyers and sellers of cryptocurrencies like bitcoin a platform to trade on. This will be both for large financial institutions along with trading firms. Zero Hash itself will be used as function for the transmission of money for all trading activities from its affiliated exchanges.
According to Edward Woodford, who is the co-founder and CEO of Seed CX:
“Being granted two virtual currency licenses by the New York Department of Financial Services marks the next step in our growth to becoming the leader in institutional trading of digital assets.”
He also went further stating that:
“As virtual currency license holders, we will be able to expand trading and settlement services to New York firms through our institutional platform that offers the strong institutional technology, the operational support and the regulatory compliance that institutions demand.”
The DFS is proud to have become the first state or federal agency in the United States to supervise virtual currencies along with the promotion of financial service market innovations. As well as licensed virtual currency exchanges, technology-based money transmitters and online lenders that are operating in New York.
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