Bitcoin exchange Coinbase granted New York’s BitLicense

New York’s department of financial services has approved bitcoin exchange Coinbase’s application for a virtual currency and money transmitters license, making it one of the largest bitcoin companies to gain the department’s approval. Coinbase becomes one of five virtual currency firms granted approval to operate in New York State, according to a department news release. The New York BitLicense became effective on June 24, 2015, as one of the stricter state laws governing cryptocurrency businesses. Several cryptocurrency businesses – such as LocalBitcoins, BitFinex and Kraken – chose to leave New York due to the regulation. Read more: cryptocoinsnews.com