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ARTICLE · 25 JULY 2019

NYDFS Grants Virtual Currency Licences

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The New York State Department of Financial Services ("NYDFS") granted virtual currency licenses to Seed Digital Commodities Market LLC

United StatesTechnology
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Hogan Lovells Cadwalader
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The New York State Department of Financial Services ("NYDFS") granted virtual currency licenses to Seed Digital Commodities Market LLC ("SCXM") and Zero Hash LLC ("Zero Hash"), both subsidiaries of Seed CX Ltd.

NYDFS authorized SCXM to serve as a "matching engine" for institutional buyers and sellers of cryptocurrencies, and a platform for cryptocurrency block-trades. Zero Hash will serve as the money transmitter for the trading activity that comes from SCXM.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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