LibertyX To Sell Bitcoins Via ATMs in New York

LibertyX To Sell Bitcoins Via ATMs in New York

Boston based Bitcoin market LibertyX got the approval to sell bitcoins in New York via ATM following the decision from the DFS. From now on, people will be able to buy BTCs with their debit cards.

“We just received the BitLicense and are excited to announce LibertyX is coming to New York! Soon you will be able to purchase bitcoin from your neighbourhood ATM,” The company said in a tweet.

In a press release titled “DFS continues to advance responsible innovation in New York’s fintech industry, the regulator announced the decision to allow LibertyX to offer services in the Empire State.

As the press release said, LibertyX will be the first company that receives a licensee to allow customers to use debit cards to purchase Bitcoin from traditional ATMs.

“DFS continues to lead the way in responsibly supervising and advancing innovation in New York’s flourishing financial technology sector through a strong state-based regulatory regime,” said Superintendent Vullo in the press release.

“Today’s approvals add to the growing list of responsible virtual currency providers who recognise and appreciate how a comprehensive regulatory framework fosters a competitive marketplace that benefits both consumers and industry.”

Before the approval, the DFS submitted the applications to a comprehensive and rigorous review in the regulatory framework approved by the state. Every application is subject to be examined by regulators but also independent consultants to ensure New York consumers protection.

Co-Founder & CEO of LibertyX Chris Yim acknowledged that the process was not easy, but “after an extensive review process, we are delighted to receive the blessing of the NYDFS (BitLicense) and offer the first debit card Bitcoin purchasing options to New York State residents.”

The DFS also announced that the approval is linked to the following of “stringent requirements including” risk-based controls to prevent money laundering, terrorist financing, or any potential wrongful use of Bitcoin.

LibertyX launched America’s first Bitcoin ATM back in 2014. After almost five years, the company have now thousands of local stores where people can walk-in and buy bitcoins instantly. Stores accept cash and debit cards but also non-traditional methods like money wires, PayPal accounts.

Each store charges a specific fee that usually works as a percentage of the transaction. LibertyX also has a convenience fee.

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News

Changelly,Exchange Platforms,Listings,Trading

NEBL Latest Coin To Join Changelly

A new partnership between Changelly and the Nebilo blockchain has meant that the latter’s native token will be made available on Changelly and used for instant swaps. This will be the latest crypto assets to join the list of 150 assets already available on Changelly. However, they will be the first instant exchange service to […]

20 November, 2019
Binance,Fiat,Investment,Turkey

Binance Now Supports Turkish Lira

Binance has launched a new Turkish Lira (TRY) fiat gateway and development plans that will open up further trading possibilities in Turkey. The news came via a speech from the Binance CEO, CZ Zhao, via a keynote speech at the Turkish Capital Markets Summit. This will mean that would-be traders out there who hold Turkish […]

20 November, 2019
Europe,Exchange Platforms,Exmo,Partnership

EXMO and RACIB Discuss “Strategic Partnership”

It was revealed yesterday that cryptocurrency exchange platform EXMO and RACIB, an association focused on developers and users of blockchain and the interests of a digital economy, have undergone talks to build a new partnership together. While the talks began last week, 12th November, the news dropped just yesterday – which bodes well for the […]

19 November, 2019
DAI,DeversiFi,MakerDAO,Updates

DeversiFi are Searching for Owners of Phantom Wallets

DeversiFi have looked to their community to help find the owners of a selection of wallets that currently own DAI which may be affected as the coin prepares for an upgrade. As we have previously reported, exchange platforms are gearing up for a significant changes to MakerDAO’s stablecoin, DAI. This change will see that DAI […]

19 November, 2019
Kraken,Listings,Staking,Updates

LSK To Be Listed on Kraken Tomorrow

The token of Lisk (LSK) will go live on Kraken tomorrow afternoon, 19th November, after a news post today confirmed the listing of the DPoS token This is the second token in as many weeks to be listed on Kraken after a flurry of new additions to their trading options over the last couple of months, […]

18 November, 2019
CFD,eToro,Research,Trading

eToro’s Research Tab Helps Make “Better Trading Decisions”

CFD trading platform, eToro has stated that the research tab they offer “will help you make better trading decisions”. The exclusive option on the platform is powered by TipRanks and promises to help users attain a further level of knowledge which can help you make improved and more informed decisions about your investment choices. The […]

18 November, 2019
localbitcoins,Money Laundering,Regulation

LocalBitcoins Receives Important Accreditation

In its latest step as a company, the peer-to-peer cryptocurrency exchange, LocalBitcoins has been recognised by an important financial body in Finland to be an Official Virtual Currency Provider. This is an important event for the platform as due to recently changed legalisation in Finland, it only companies registered as such that are allowed to […]

17 November, 2019
Binance,Exchange Platforms,Mobile

A Limited-Edition HTC Exodus 1 With Binance Support Released

In a new partnership between two powerhouses in their respected fields, HTC and Binance, a new phone has been released with the benefits of both firms installed. The new device will be known as the Exodus 1: Binance Edition, due to the fact it will come with Binance-Chain support and so you can benefit from […]

16 November, 2019