Wall Street Journal: Circle Gets First ‘BitLicense,’ Releases Circle Pay, New Service

Paul Vigna reports in The Wall Street Journal:

A Boston-based bitcoin startup became the first firm to receive a license, allowing it to offer digital-currency services in New York.

The New York Department of Financial Services issued it first “BitLicense” to Circle Internet Financial Inc., a firm founded two years ago by Jeremy Allaire and backed by Goldman Sachs Group Inc.

The goal of BitLicenses is to create a framework that allows digital-currency firms to build their services, but at the same time to protect consumers with various requirements, such as anti-money laundering compliance and cyber security guidelines.

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