Square obtains NY State cryptocurrency license

Square obtains NY State cryptocurrency licenseSquare Inc, the payments company founded by Twitter Inc CEO Jack Dorsey, has obtained a license to offer New York state residents the ability to buy and sell bitcoin through its Cash App, the company said on Monday. This makes Square the ninth firm to have obtained a so-called “BitLicense” by the New York State Department of Financial Services. New York has been considered one of the strictest states for cryptocurrency businesses since June 2015, when it started requiring virtual currency firms doing business there to get a license to hold customer funds and exchange virtual coins for dollars and other regular currencies.

Source: Yahoo! News