Market Structure
December 5, 2019, 5:33AM EST
• 2 min read

NYDFS is granting more BitLicenses than ever before, 8 already this year

Larry Cermak

Quick Take

  • BitLicense went into effect on June 2015 and immediately generated criticism for being too invasive, cumbersome, and expensive to obtain; especially for smaller companies
  • On top of the $5,000 non-refundable application fee, the whole process costs companies up to $100,000
  • In 2018, NYDFS granted six BitLicenses; more than the sum of the previous three years. In 2019, it’s already granted eight

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