Xapo Offers Up Its NYDFS BitLicense

Cryptocurrency trade Xapo has surrendered its BitLicense, based on the New York regulator which oversees the digital foreign money license.

The New York Division of Monetary Companies (NYDFS) introduced Wednesday that Xapo “surrendered” its digital foreign money license the day earlier than. It didn’t say why the trade did so. Xapo first acquired its BitLicense in 2018.

This marks the primary time an issued digital foreign money license has been suspended in New York.

“New York clients of Xapo who might have unclaimed funds related to a Xapo account might want to discuss with the Unclaimed Funds web site of the Workplace of the New York State Comptroller,” the assertion from NYDFS mentioned.

Xapo and NYDFS spokespeople didn’t instantly return a request for remark.

Crypto trade Coinbase, a fellow BitLicense recipient, acquired Xapo’s institutional enterprise in 2019.

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