April 10, 2019 / 3:56 PM / 16 days ago

Bittrex virtual currency license rejected by NY financial regulator

NEW YORK, April 10 (Reuters) - The New York Department of Financial Services said on Wednesday it has rejected the application of Bittrex, a U.S.-based digital asset exchange, for a virtual currency license that it needs to operate in the state.

In a statement, DFS said it denied Bittrex’s application due to deficiencies in the exchange’s capital, as well as anti-money laundering, requirements.

The New York regulator also ordered Bittrex to cease operating in the state of New York and wind down its business within 60 days. (Reporting by Gertrude Chavez-Dreyfuss; editing by Jonathan Oatis)

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