Bullish secures New York BitLicense from NYDFS, paving way for US launch

Bullish has secured a coveted BitLicense from the New York State Department of Financial Services, clearing the way for the crypto exchange to operate in one of the toughest US jurisdictions.

The license, confirmed in a company statement on Wednesday, positions Bullish to expand into the American market after years of focusing abroad.

New York’s BitLicense, created in 2015, is widely seen as one of the strictest state regimes for digital asset firms. It requires licensees to meet stringent anti-money laundering and know-your-customer standards, hold sufficient reserves, and demonstrate strong cybersecurity protections. Fewer than 40 firms have obtained the license to date, underscoring the regulatory hurdles facing newcomers.

Blockchain firms have long cited US entry as risky because of murky rules and aggressive enforcement by regulators. However, the current administration has brought about rapid changes aimed at clarifying the playing field, leading to a perceived opening for exchanges seeking to establish credibility in the world’s largest capital market.

For Bullish, the approval eliminates a major barrier to US entry and could help attract institutional investors who value regulatory clarity. Still, that approval is only the first step: License holders remain under close scrutiny and must file detailed reports to maintain good standing.

This is a developing story.

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This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.

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