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.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

11 Biggest Sponsorships Deals for the Crypto Market in 2021

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021