Coinbase Assets has received a license from the New York Department of Financial Services (NYDFS) to engage in Virtual Currency Business Activity. This allows Coinbase to offer a wider range of crypto products to New York residents. The newly approved offerings consist of cryptocurrencies with a proven track record. This regulatory win comes as Coinbase is currently involved in a legal battle over mistreatments from the financial sector. The NYDFS has recently been changing its stance on crypto, as evidenced by its approval of Ripple's stablecoin last month. This shift in regulatory attitude is part of ongoing changes in the US, with many formerly hostile institutions now accepting the industry. This license is positive news for Coinbase and its subsidiaries, indicating a changing perspective among regulators.



Other News from Today