Robinhood launches Bitcoin and digital assets trading in New York

  • Trading of Bitcoin and other digital assets went live on the platform on Thursday.
  • “Currently, you can invest in seven cryptocurrencies on Robinhood Crypto.”

The state of New York residents will now access buy and selling services on Robinhood trading app for Bitcoin, Ethereum among other cryptocurrencies. The launch of the trading services in New York comes after Robinhood was granted the coveted BitLicense by the New York Department of Financial Services (NYDFS) earlier this year. The trading of Bitcoin and other digital assets went live on the platform on Thursday. The development was announced in a press release:

“Currently, you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin. You can also track price movements and news for those and 10 additional cryptocurrencies.”

New York regulations require that all operators of cryptocurrency exchanges even those “storing, holding, or maintaining custody or control of virtual currency on behalf of others,” comply with the set guidelines before being granted the BitLicense. Most companies prefer to avoid the state altogether.

 

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