Coinsource, the world’s largest Bitcoin ATM operator with the claim that they offer the industry’s lowest rates, has official been granted the New York state’s BitLicense. New York, which restricts companies from offering services to their citizenry, has given Coinsource to expand on the their currently 200 plus ATMs in the US to their state.
Coinsource’s ATMs created to allow clients trade bitcoins directly from them. The ATMs allow users to conduct $5 to $5000 worth of transactions daily. These machines finding themselves on various corners around the US will help the crypto market with adoption as more people become aware of the potential of cryptocurrency.
The new license let the company operate their ATMs officially within the state, however, they have already installed several machines using a provisional license. The new installations process will become more streamlined, opening up more locations to the company.
The CEO of Coinsource, Sheffield Clark, commented on acquiring the new license:
“From the onset, our goal was to provide millions of Americans with a reliable and convenient way to buy digital currency. Bitcoin is no longer a fringe currency, and in 2018, is increasingly being adopted by the mainstream. Today, with the issuance of the virtual currency trading license to a BTM operator, the bitcoin industry takes another step toward public adoption.”