Crypto banking firm Xapo is has given up its BitLicense, according to a notice from the New York Department of Financial Services (NYDFS).
"Xapo has informed DFS of its business decision to conclude its virtual currency business in New York," said theThe notice recommended New York customers with unclaimed funds in Xapo accounts should refer to the
state comptroller'sThe NYDFS issues the BitLicense as New York's main financial regulator. The licensure allows virtual currency firms to transmit, custody, issue, or facilitate the exchange of crypto with the state.
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