The famous bitcoin news page “Bitcoin Archive” recently tweeted, sharing the information that Paypal is fully licenced to work in New York to offer Bitcoin to customers.
💥BREAKING: PayPal is now fully licensed in New York to offer #Bitcoin to customers.
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) June 7, 2022
A virtual currency licence has been awarded to PayPal (PYPL), which has been providing crypto buy and sell options since 2020 in New York.
The company has already been authorised to conduct cryptocurrency services in New York with its temporary licence since October 2020, when it initially claimed that clients could purchase or sell bitcoin. The firm has been issued a full licence after successfully upgrading its conditional licence to a full one.
The New York Department of Financial Services (NYDFS), the agency in charge of enforcing the licencing system, has permitted BitLicense. The agency announced PayPal’s move on Tuesday.