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ARTICLE · 20 AUGUST 2019

Cryptocurrency Exchanges Obtain New Licenses Across Globe Amid Market Growth

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The New York State Department of Financial Services (DFS) announced early this week that it approved a virtual currency license for Seed Digital Commodities Market LLC (SCXM),

United StatesTechnology
Joanna Wasick
Joanna Wasick
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The New York State Department of Financial Services (DFS) announced early this week that it approved a virtual currency license for Seed Digital Commodities Market LLC (SCXM), and a virtual currency license and a money transmitter license for Zero Hash LLC. Both companies are subsidiaries of Seed CX Ltd. SCXM will serve as a matching engine and platform for cryptocurrency buyers and sellers. Zero Hash will function as the money transmitter for SCXM's trading activity. In the announcement, DFS noted it has now approved more than 20 virtual currency businesses. In Europe, Prasos Ltd., a Finland-based cryptocurrency brokerage and exchange firm, was granted a Payment Institution License, enabling it to offer specific fiat currency payment services and to have a customer fund account from a Finnish credit institution. Prasos is only the third cryptocurrency firm in Europe to receive this license.

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