Tag: BitLicense

BitLicense

Genesis Gets BitLicense Approval

Genesis Global Trading has received approval from the New York Department of Financial Services (DFS) for a BitLicense.

The license enables Genesis to facilitate the trading of several digital currencies, including bitcoin, with its institutional trading partners.

Genesis is the first New York-based trading firm to receive the license, having prior to now operated under a “safe harbour” provision with DFS that enabled digital currency trading.

“Regardless of the fact that cryptocurrencies trade worldwide, New York is still a major financial centre and so to have a firm here approved under this regime is a milestone moment for all of us,” Michael Moro, CEO of Genesis, tells Profit & Loss.