New Cryptocurrency Exchanges Receive Approvals In US And Foreign Jurisdictions

Earlier this week, the New York State Department of Financial Services granted a virtual currency license and money transmitter license for Tagomi Trading LLC. Tagomi is the latest of 18 applicants that DFS has approved since it began regulating the virtual currency market in 2015. Meanwhile, in Japan, regulators have approved several new exchanges. Rakuten Wallet Inc., a subsidiary of the largest e-commerce site in Japan, announced that registration with Tokyo's Kanto Local Finance Bureau had been completed. Rakuten Wallet replaces an exchange named Everybody's Bitcoin Inc., which its parent company acquired for $2.4 million in August 2018. A second crypto exchange, DeCurret, was also approved to begin operations this week. Japanese regulators also have approved the application of Taotao, a cryptocurrency exchange that is 40 percent owned by a major international web services provider.