Robinhood, the popular stock and crypto investing app, has officially launched bitcoin, ethereum, and other cryptocurrency trading in New York.
Silicon Valley-based Robinhood received a BitLicense from the New York Department of Financial Services in January 2019 and on Thursday opened access to crypto trading in the Empire State.
You can also track price movements and news for those and 10 additional cryptocurrencies.
New York is unique and problematic for crypto traders because all purveyors must apply for a BitLicense, most notably for companies that are "Storing, holding, or maintaining custody or control of virtual currency on behalf of others," according to NYDFS. Many crypto startups have avoided the requirements entirely by becoming BitLicense refugees and refusing to do business in the state.
"Here we are two miles from the Statue of Liberty and you cannot sell CryptoKitties in the state without that license. That's the absurdity of what's happened here," ShapeShift CEO Erik Voorhees complained in 2018 when asked about the controversial license at CoinDesk's Consensus conference in New York.
Robinhood Opens Trading for 7 Cryptocurrencies in New York
Published on May 23, 2019
by Coindesk | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.