🛑 NY bars crypto exchange Bittrex over anti-money laundering concerns
Crypto exchange Bittrex Inc. has been denied a BitLicense by the New York Department of Financial Services' (NYDFS) over multiple concerns. The NYDFS argues capital requirements, anti-money laundering rules, and due diligence standards on tokens and product launches are not adequate for approval. The barring is the first crypto exchange denial by the NYDFS. Bittrex may refile its application but may not appeal and has 60 days to cease all business operations in the state.
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