BitLicense is a regulatory license issued by the New York Department of Financial Services that authorizes cryptocurrency companies to operate legally within the state, including performing exchange and custodial services

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The BitLicense is a New York license necessary for conducting business in virtual currencies in the state. It allows an entity to maintain custody of digital assets on behalf of others, perform exchange services, and more.

BitLicense is a business license for virtual currency activities issued by the NYDFS under special regulations designed for companies. Its regulatory functions with New York include cryptocurrency transmission, exchange service provision, and digital asset management.