Hassan Maishera
TL;DR
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The NYDFS has granted MoonPay the BitLicense in New York, completing the firm’s U.S. regulatory coverage.
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The payment firm also obtained a money transmitter license for New York State.
MoonPay Gains Regulatory Approval in New York
MoonPay, a cryptocurrency on-ramp and payments firm, has obtained the BitLicense and money transmitter license from the New York State Department of Financial Services (NYDFS).
In a press release on Wednesday, the firm revealed that the BitLicense approval completes its U.S. regulatory coverage, complementing money transmission licenses in 46 other U.S. jurisdictions. MoonPay also has regulatory approvals in the UK, Australia, Canada, Italy, Ireland, and Jersey.
This latest development comes shortly after MoonPay launched its new headquarters in New York City. While commenting on its New York office, MoonPay co-founder and CEO Ivan Soto-Wright stated that,
“As a U.S.-founded company with a headquarters in New York City, we’re immensely proud of this milestone and look forward to our continued work with regulators nationwide to make crypto accessible to everyone.”
The cryptocurrency space in the United States continues to grow thanks to Donald Trump’s crypto-friendly administration. Crypto firms are now looking to increase their presence in the United States amid ongoing regulatory reforms.
