Quick take:
The BitLicense authorises firms to conduct business in virtual currencies in New York.
The issuance of the BitLicense comes despite New York City Mayor Eric Adams recently speaking against it.
The new license enables MoonPay’s New York-based customers to access all services provided by the firm.
MoonPay has received New York’s BitLicense, allowing the crypto payments firm to conduct business in virtual currencies in the East Coast state. The company said it will now be able to “operate coast-to-coast in the United States without coverage gaps.”
The new license enables MoonPay’s New York-based customers to access all services provided by the firm.
New York City Mayor Eric Adams recently spoke at the Bitcoin 2025 event in Las Vegas asking to get rid of the license to allow the free flow of Bitcoin in the city. “I want you back in the city of New York, where you won’t be attacked and criminalized. Let’s get rid of the Bitcoin license and allow us to have the free flow of Bitcoin in our city.”
BitLicense allows businesses and individuals to receive or transmit virtual currencies — store, hold or maintain custody or control of virtual currency on behalf of others, as well as buy and sell virtual currency, offer crypto exchange services and control, administer or issue virtual currency.
Commenting on the issuance of the license, MoonPay co-founder and CEO Ivan Soto-Wright told Decrypt: “The New York BitLicense is a critical milestone for MoonPay, enabling us to directly service New York customers. New York is considered the gold standard in U.S. financial regulation, and we are thrilled to join the small group of companies that have passed this rigorous process.”
The BitLicense paves the way for MoonPay to roll out crypto payment services across all 50 U.S. states. The company also holds registrations in the United Kingdom, Australia, and Canada, among other jurisdictions.
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