Robinhood Crypto and Libertyx Get Licenses From New York State Regulator

Robinhood Crypto and Libertyx Get Licenses From New York State Regulator

According to reports, The New York State Department of Financial Services has issued licenses to crypto-players Robinhood Crypto and Libertyx. Whereas the former now has the permission to trade and store seven virtual coins, the latter has become the first Bitlicensee to let users buy bitcoin with debit cards in classical ATMs in the state.

What Does it Mean?

In the case of Robinhood, this company has been authorized to transmit money. Until now, the New York State regulator granted such licenses only to 15 companies which provide crypto service. quotes the announcement as follows:

«[NY]DFS has authorized Robinhood Crypto to offer services for buying, selling, and storing seven virtual currencies, including bitcoin, ether, bitcoin cash, and litecoin.»

Robinhood shared the same news on its site. It is known that the company does not support ICOs. However, it supports such cryptos as Bitcoin Gold, Dash, Lisk, Monero, NEO, OmiseGO, Qtum, XRP, Stellar and Zcash.

Concerning Libertyx it is known that the company received the Bitlicense. Its top exec Chris Yim characterized the experience as «extensive.» He also clarified that from now on Libertyx is the first NYDFS cryptocurrency licensee thanks to whom clients can buy BTC and its pals from conventional ATMs.

It should be recalled that Libertyx set up its first bitcoin ATM around five years ago — in 2014. Since then it has been expanding its networks of stores for purchasing cryptos. On the company’s site, it is mentioned that they have thousands of ATMs, store cashiers and standalone debit kiosks for buying BTC.