1.Bittrex application for Bitlicense rejected by New York DFS
2.UK and European Users Can Now Buy Bitcoin Cash Inside Bitcoin.com Wallet
1. Bittrex application for Bitlicense rejected by New York DFS
The New York Department of Financial Services (NYDFS) has officially rejected allowing its BitLicense to Bittrex Inc., a U.S.-based cryptocurrency exchange that allow users to exchange almost 200 digital currencies/tokens.
The decision comes just 24 hours after the state regulator affirmed the application of its rival Bitstamp, making it one of the some of firms to get the license that enables cryptocurrency businesses to work in New York.
As indicated by News The DFS said it denied Bittrex’s application because of deficiencies in Bittrex’s BSA/AML/OFAC compliance program, just as anti-money laundering, requirements. It included that the crypto exchange failed to “exhibit that it will conduct its business honestly, fairly, equitably, carefully, and efficiently.”
Bittrex, which has more than 1.6 million customers all around and approximately 35,000 in New York, is now required to stop working in the state within 60 days.
Bittrex has worked under a “safe harbor” provision that permits BitLicense registrants to operate in the state while their NYDFS applications are pending. During this period, the applicant startup should still be required to follow security practices, while complying with regulations put forth by the financial crimes enforcement authority.
2. UK and European Users Can Now Buy Bitcoin Cash Inside Bitcoin.com Wallet
Cryptocurrency portal Bitcoin.com announced that its official cryptocurrency wallet which supports both BCH and BTC has received an update and now it allows UK and Europe-based users to buy BCH directly from inside the wallet. The News is published on official website
“Bitcoin.com Wallet” app was initially released in June 2017, users are able to buy, store, send, and receive BCH and BTC. The app is accessible for all major computing platforms: iOS, Android, MacOS, Windows, and Linux.
The latest version of the wallet gave users the ability to swap among BCH and BTC using the Sideshift platform. The latest release has given U.K. and Europe-based users the ability to purchase BCH directly inside the wallet. On account of an association with UK-based Moonpay integration with the Wallet, UK and Europe-Based Users are now able to buy cryptocurrency via debit and credit cards.
For small amounts you can buy as much as 150 euros’ of BCH “without the KYC . But for larger amounts (“up to €5,000 daily” and “up to €20,000 monthly”), Users will need to go through the Know Your Customer (KYC) process.
Bitcoin Cash advocate Roger Ver, who is also the CEO of Bitcoin.com, had this to say about the new feature:
“We endeavor to convey financial opportunity to everyone, everywhere, and we need to make it easy for everyone to buy bitcoin cash. With our latest wallet feature, it’s never been simpler.”
Bitcoin.com CEO added:
“It’s a major eye-opener for many people. Buying from an exchange means using their custodial wallet and, even if it’s just temporarily while you buy the coins, the cryptocurrency is still not as secure as it could be — the Bitcoin.com Wallet now lets users sidestep exchanges altogether, so your bitcoin cash is under your control from the moment you buy it.”
For now this new feature is only available to users in Europe, “there are plans to roll the service out to more countries soon.”