Coinbase Receives Operating License from New York Regulator | Airdrop Alert Pro

Coinbase Assets announced that it has received a license from the New York Department of Financial Services (NYDFS) to engage in virtual currency business activities.

Coinbase Assets’ new products, now available to New York residents, are comprised entirely of tokens with a proven track record.

NYDFS gives green light to Coinbase assets

Coinbase has faced regulatory hurdles over the past few years in offering many of its products in New York. However, according to today’s reports announcementthe exchange is licensed by the state’s Department of Financial Services.

this is a major regulatory victory For exchange, currently launch a public legal battle past Abuse from the financial sector. With its “Virtual Currency Business Activities” license, Coinbase can now offer a variety of new crypto products to New York residents.

“Yayoi Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO) and Metis (METIS) are now available to New York residents on coinbase.com and the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets,” the company claims.

All assets listed on Coinbase are several years old and only one of them It especially made headlines last year. Coinbase has several subsidiaries with different functions, but NYDFS approved the entire group.

The NYDFS has recently changed its stance on cryptocurrencies, even going beyond Coinbase’s approval. Last month, regulators Approval of Ripple’s new RLUSD stablecoinwhich results in Brings multiple benefits to the company.

Previously, the regulator had taken a rather negative stance towards cryptocurrencies, which was reflected in its actions to restrict cryptocurrency mining and cryptocurrencies. Challenge the development of Binance. Back in 2023, NYDFS also joins broader SEC crackdown About stablecoins and exchanges.

This shift may be part of ongoing regulatory changes in the United States. Since Donald Trump was re-elected, many people have Hostile institutions have embraced the industry.

For example, the new U.S. Attorney for the Southern District of New York (SDNY) Announces plans to halt cryptocurrency crackdown. Just a year ago, the same office had opposite plan.

Regardless, the NYDFS license is good news for Coinbase and all of its subsidiaries. Regardless of how these assets perform in New York markets, the approval symbolizes a shift in regulators’ views.