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

New York State Department of Financial Services (NYDFS) this week has  approved its 18th BitLicense application, its eighth already this year. After a slow start amid controversy, the number of granted licenses has been on the rise.

BitLicense is a set of regulations issued by the NYDFS which are mandatory for any cryptocurrency company serving New York residents. License applicants are subject to a rigorous review of anti-money laundering, capitalization, consumer protection, and cybersecurity standards.