-0.23% Bitcoin (BTC) 19403 EUR
-3.69% Ethereum (ETH) 1066.48 EUR
+0.51% Litecoin (LTC) 51.27 EUR
+1.43% B-Cash (BCH) 101.83 EUR
-3.48% Ethereum (ETH) 0.0555803 BTC
+0.22% Litecoin (LTC) 0.00266741 BTC
+1.93% B-Cash (BCH) 0.0053025 BTC
-0.98% Bitcoin (BTC) 20272.2756 USDC
+0.77% USD Coin (USDC) 0.95 EUR
-1.09% Bitcoin (BTC) 20300.899 USDT
+0.76% Tether (USDT) 0.95 EUR
-1.46% Chainlink (LINK) 6.05 EUR
-1.08% Chainlink (LINK) 0.00031604 BTC
+2.90% Dogecoin (DOGE) 0.06 EUR
+3.27% Dogecoin (DOGE) 0.00000346 BTC
+0.99% Uniswap (UNI) 4.93 EUR
+1.31% Uniswap (UNI) 0.00025684 BTC
-0.52% Cardano (ADA) 0.44 EUR
-0.29% Cardano (ADA) 0.00002341 BTC
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-0.91% Tron (TRX) 0.00000325 BTC
+4.80% Shiba Inu (SHIB) 0.00001016 EUR
-1.12% Zcash (ZEC) 56.5 EUR
-1.36% Zcash (ZEC) 0.0029189 BTC
+2.43% Basic Attention Token (BAT) 0.00001929 BTC
-1.17% TradeFlow (TFLOW) 0.06013772 BUSD

FTX US Reveals New York Trust Charter Application

05-13-2022

FTX US has applied for a trust charter with the New York financial services regulator as part of a push to allow it to operate in New York state and offer its products to local residents.

  • A trust charter from the New York State Department of Financial Services enables digital asset companies to offer crypto trading and custody services in the Empire State. BitGo and Coinbase are among the firms to have been granted such a charter in the past.
  • Trust charters grant fiduciary powers to recipients enabling them to manage their clients' assets and offer crypto-as-a-service products to other regulated financial institutions.
  • The other route to regulatory approval in New York is to apply for a BitLicense. The BitLicense framework has drawn criticism for being stifling to innovation for its time and capital-intensive application and compliance measures.
  • FTX revealed its application by appointing Marissa MacDonald as chief compliance officer for the FTX Trust Company. MacDonald previously held the equivalent position at Fidelity Digital Assets.
  • FTX US, the stateside wing of Sam Bankman-Fried's crypto exchange, raised $400 million in funding at an $8 billion valuation earlier this year. It had over 1.2 million users as of the end of January.

 

Source: Coindesk