NYC Regulator Grants BitLicense to Bitcoin ATM Provider Coinsource

ATM network operator Coinsource has been granted a BitLicense by the New York Department of Financial Services (NYDFS), according to a press release issued on Thursday.

The approval, which took the company around three years to obtain, means New Yorkers will now be able to use any of Coinsource’s 40 touchscreen kiosks located in the state (in New York City, Westchester and Nassau County) to instantly buy and sell Bitcoin for fiat currency. With Coinsource’s BTMs (Bitcoin Teller Machine), users can insert cash and purchase BTC (which can then be stored in a mobile wallet) or sell their Bitcoin for cash (by scanning their mobile wallet at the BTM).

“Coinsource is the first and only company that operates BTMs to receive a New York virtual currency license … Now that Coinsource is a license holder, our customers can buy and sell with confidence that Coinsource meets and exceeds the high standards set by the New York Department of Financial Services &he…

This article appeared first on Cryptovest

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