Cryptocurrency (Mar 11, 2021 12:30PM ET)
bitFlyer USA Scores Crypto Trading License for Connecticut
- bitFlyer USA has secured a crypto trading license for the state of Connecticut.
- The state requires all financial traders to have a money transmitter license.
- Demand for crypto trading is on the rise as more investors flock to crypto trading.
bitFlyer USA, a branch of bitFlyer Inc, has just secured a license to trade crypto in the state of Connecticut.
Of note, the state of Connecticut requires all parties engaging in financial trade to have a money transmitter license. To this end, the state added virtual currencies to its criteria for regulation as a money transmitter in 2015. Thus, bitFlyer’s expansion into the state is quite exciting.
A bitFlyer agent told CoinQuora that the license will avail Connecticut residents of safe and convenient access to crypto assets. In addition, bitFlyer offers the lowest trading fees thanks to its recently launched Lightning Fee initiative.
bitFlyer’s expansion into Connecticut is part of the exchange’s commitment to lowering barriers for entry into crypto trading. As mainstream crypto adoption increases there is a higher demand and interest for crypto trading among retail traders. For instance, top Altcoin Cardano recently broke Google’s search records.
Thus, as the demand for crypto products grows, there is an equal need for access to a safe, affordable, and reliable trading on-ramp option. bitFlyer is uniquely positioned to meet this need as the exchange is already licensed to operate in about 48 American states. The exchange also has a user-friendly interface that is easy for new traders to navigate.
However, bitFlyer is yet to make an official statement on when it will start operating in Connecticut.
This article first published on coinquora.com