Department of Financial Services

DFS Grants Virtual Currency License To bitFlyer USA, Inc.


On November 28, 2017, the New York State Department of Financial Services (“DFS“) announced that it has approved the application of bitFlyer USA, Inc., for a virtual currency license.”  Pursuant to this license bitFlyer USA is “approved to offer an online digital currency exchange and trading platform as well as provide custodial wallet services for the Bitcoin digital currency.”  The announcement emphasizes that DFS “has conducted a comprehensive review of bitFlyer USA’s application, including the company’s anti-money laundering, capitalization, consumer protection, and cyber security policies.”  DFS further stated that its “rigorous application ensures only the most safe and compliant firms can operate in New York . . .” Release.