[2015-05-07] NY Times: Bitcoin Exchange Receives First License in New York State

Kprawn

legendary

Activity: 1904

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" ItBit avoided the need for a BitLicense by instead applying for a trust company charter, which appears to come with even stricter regulations. It is the first trust company to be created in New York since the financial crisis. " <--- Now that part is impressive.

It will not mean a lot for the normal person on the street tho ---> " Because of the extensive requirements for opening an account with the company, itBit is planning to focus primarily on larger investors and financial institutions. "

Some big names joined them, so it might be something worth while. Wink

Chef Ramsay

legendary

Activity: 1568

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I'm of the opinion that this ItBit should be another option for 'mericans to purchase or get exposed to bitcoin in their accounts so I think this should be a positive. News coming out on positive ground should be relished and sought after in a large way imo.

Bit_Happy

legendary

Activity: 2114

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A Great Time to Start Something!

Quote from: galbros on May 09, 2015, 03:09:58 PM

Another legal alternative to Coinbase for US users is a good thing. My sense is that it is a fairly professional organization, especially impressed with the heavy hitters on their board. That alone is worth something to encourage broader acceptance and use.

"...also announced on Thursday that it had won $25 million in new financing and had appointed three prominent board members: Sheila C. Bair, the former chairwoman of the Federal Deposit Insurance Corporation; Bill Bradley, the former New Jersey senator; and Robert H. Herz, a Morgan Stanley director."

Big Gov't insiders and their friend(s), how/why is that impressive?

galbros

legendary

Activity: 1022

Merit: 1000

Another legal alternative to Coinbase for US users is a good thing. My sense is that it is a fairly professional organization, especially impressed with the heavy hitters on their board. That alone is worth something to encourage broader acceptance and use.

1Referee

legendary

Activity: 2170

Merit: 1427

While people say it is good news, it will not change much for me. What I do hope for is that they can probably help Bitcoin taking another forward step.

Kaneki

sr. member