MoonPay receives NY BitLicense approval
MoonPay received licensing approval from the New York State Department of Financial Services (NYDFS), allowing it to operate in all 50 US states. The company obtained a BitLicense and a money transmitter license, making it one of 35 digital currency businesses authorized in New York. CEO Ivan Soto-Wright stated this regulatory approval enables comprehensive service coverage across the US. The BitLicense is required for digital asset businesses operating in New York. The program faces scrutiny, with calls for its end from officials like NYC Mayor Eric Adams. MoonPay plans to open a new headquarters in New York City and has also gained approval to operate in the Netherlands under the EU’s MiCA framework. Other companies like Anchorage Digital, Circle, Coinbase, and Gemini hold BitLicenses, but the program has seen legal challenges, including Genesis Global Trading surrendering its license after a settlement over investor fraud allegations.
