Comment on Square’s Bitcoin Ambitions Clear a Key Hurdle

Square’s Bitcoin Ambitions Clear a Key Hurdle

Shares of Square (NYSE: SQ) jumped 3% to an all-time high on June 18 after New York State's Department of Financial Services (NYDFS) granted the payments company a "BitLicense", which will let New York residents buy and sell Bitcoin via its Cash App.The NYDFS, which previously granted Square a money-transmitter license, reviewed Square's app and policies regarding money laundering, fraud, and cybersecurity before granting the license.

 

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