In short
- MoonPay was granted a BitLicense and cash transmitter license in New York.
- The agency says it could now function coast-to-coast in america with out protection gaps.
- New York Metropolis’s “Bitcoin Mayor” Eric Adams just lately urged ending the BitLicense.
Crypto funds firm MoonPay has been granted its BitLicense and cash transmitter license from the New York Division of Monetary Providers, it introduced on Wednesday.
Now, MoonPay clients based mostly in New York can entry the agency’s whole stack of fiat-to-crypto providers.
“The New York BitLicense is a essential milestone for MoonPay, enabling us to immediately service New York clients,” a MoonPay spokesperson informed Decrypt. “New York is taken into account the gold normal in U.S. monetary regulation, and we’re thrilled to affix the small group of firms which have handed this rigorous course of.”
The BitLicense is a New York license obligatory for conducting enterprise in digital currencies within the state. It permits an entity to keep up custody of digital property on behalf of others, carry out alternate providers, and extra.
With its New York licenses granted, MoonPay now holds cash transmitting licenses in 47 United States jurisdictions, and registrations in international locations like the UK, Australia, and Canada.
Established in 2015, the BitLicense has been traditionally troublesome to acquire for companies trying to conduct crypto actions within the state. However present New York Metropolis mayor Eric Adams—the self-proclaimed “Bitcoin mayor”—just lately urged it ought to not exist.
“I need you again within the metropolis of New York, the place you will not be attacked and criminalized. Let’s do away with the Bitcoin license and permit us to have the free circulate of Bitcoin in our metropolis,” Adams mentioned on the latest Bitcoin 2025 convention in Las Vegas.
Adams has been vocal in help of the crypto trade, just lately internet hosting a crypto summit after calling for NYC to develop into the “crypto capital of the world.”
MoonPay has helped transfer the needle in that path, unveiling a brand new headquarters in New York Metropolis on the finish of April previous to being granted its BitLicense.
“New York is the monetary capital of the world. Our enterprise has at all times been about bridging the standard finance trade and the brand new crypto financial system, and now, with our new HQ in New York and our BitLicense, we will work extra intently with the most important monetary establishments on the planet,” mentioned a MoonPay spokesperson.
The agency, which mentioned it notched its greatest monetary yr by reaching profitability in 2024, performed a pivotal position within the early success of President Donald Trump’s Solana meme coin launch.
As for what’s subsequent, a MoonPay spokesperson informed Decrypt, “We’re going to proceed investing in expertise in New York and america, with extra bulletins coming quickly.”
Edited by Andrew Hayward
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