New York BitLicense (NYDFS)

Regulatory framework implemented by the New York Department of Financial Services (NYDFS) that grants official approval to companies engaged in various virtual currency activities, such as virtual currency transmission, buying and selling, and custodial services, within the state of New York.

What You Need To Know

This was created in 2015 to increase consumer protection data safeguards. NYDFS has tightened rules on coin listings, requiring licensees to submit detailed listing/delisting policies for approval.