Skip to content

Bitcoin mass adaptation? New York introduces Bitcoin to traditional ATMs

New Yorkers can now buy Bitcoin (BTC) with their debit cards at traditional ATMs. LibertyX has received the first license from the New York regulator to allow New York residents to purchase Bitcoin (BTC) with their debit card directly at an ATM.

New York soon the Bitcoin (BTC) and cryptoparadies?

The Bitcoin payment service provider LibertyX introduced the first Bitcoin machine in 2014. Since then, it has thousands of local stores equipped with Bitcoin payment options. The startup company partnered with Genmega in 2018 to launch the first debit bitcoin machine in the US. Aiming to expand the purchase of Bitcoin (BTC) to over 100,000 machines across the country.

To use a debit card, users need a LibertyX account on the mobile app. Approved account holders can buy up to $ 3,000 Bitcoin (BTC) per day.

More clarity in the Bitcoin (BTC) and Crypto legislative debate

The New York State Department of Financial Services (DFS) aspires to become a leader in fintech innovation.

DFS continues to respond swiftly and responsibly to innovations in the financial services marketplace by licensing technology-based money transferers under the New York Money Transfers Act, online lenders under the New York Banking Law, and virtual currency exchanges under the New York Financial Services Act. So far, DFS has approved sixteen licenses or licenses for companies in the virtual currency market.

Another step to Bitcoin (BTC) mass adaptation?

The license gives LibertyX the security of being legally licensed in New York. A real blessing for many developers and blockchain companies. Such clarity has been lacking for Bitcoin entrepreneurs operating similar companies in other countries and jurisdictions. In India, for example, two business people were arrested by police last October for trying to set up a Bitcoin machine.

DFS has also licensed Robinhood Crypto, which allows New Yorkers to buy, sell and store cryptocurrencies through the company’s mobile app.

Published inCryptocurrencies

Be First to Comment

Leave a Reply

%d bloggers like this: