Strike Receives BitLicense, Money Transmitter Approval in New York

Payments company Strike, operating as Zap Solutions, Inc., has received both a virtual currency license (BitLicense) and a Money Transmitter License (MTL) from the New York State Department of Financial Services (NYDFS). These approvals, granted in February, allow Strike to offer its Bitcoin services, including buying, selling, recurring purchases, and converting direct deposits into BTC, to New York residents and businesses. CEO Jack Mallers called the BitLicense a defining milestone for expanding their Bitcoin-based financial services in a major market. While the BitLicense permits operations within New York, obtaining MTLs in other states is necessary for nationwide service. The NYDFS framework requires firms to maintain capital reserves, implement AML controls, and undergo regular examinations. Strike joins other licensed entities like Coinbase and Robinhood, as New York's stringent licensing is often viewed as a benchmark for US crypto firms.

(Source：Cointelegraph)