Now, residents of New York can buy bitcoins at regular ATMs using their debit cards. Thanks to a recently granted license, LibertyX has become the first licensee to buy Bitcoins on a New York state debit card, Dailyhodl writes.
LibertyX, a Bitcoin payment provider, installed the first Bitcoin ATM in 2014, then developed a solution for Bitcoin payments in thousands of local stores. In 2018, a partnership with Genmega, the startup launched the first debit Bitcoin-ATM in the USA, increasing the number to 100,000 ATMs across the country.
To use a debit card, users need an account in the LibertyX mobile app. Verified account holders can purchase up to 3,000 bitcoins per day.
According to the statement, the New York State Department of Financial Services (DFS) seeks to become a leader in innovative blockchain technologies .
“DFS responds quickly and responsibly to innovations in the financial services market by licensing payment technologies based on the New York Money Transfer Act; exchange of virtual currencies in accordance with the New York Financial Services Act. Today, DFS has approved sixteen statutes or licenses for companies in the virtual currency market. ”
The license provides LibertyX with the opportunity to work in New York, which is a luxury for many developers and blockchain companies. For example, in India last October, police detained two businessmen for trying to install an ATM with bitcoins .
DFS also granted Robinhood Crypto a license that allows New Yorkers to buy, sell, and store cryptocurrency using the company's mobile application.
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