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bitFlyer gets NY BitLicense, launches US operations

 BitFlyer, one of Japan’s leading cryptocurrency exchanges, has obtained a trading license from the state of New York, the so-called BitLicense, and is launching operations in 41 US states, the company said.


Another exchange that has such license – Coinbase and its institutional platform GDAX – have approval to operate in 48 states and another major US bitcoin exchange – Gemini – has permission for 46 states. Both are also allowed to operate in Washington DC.


BitFlyer is the largest Japanese bitcoin exchange, with a volume for the last 24 hours of $328,128,110 and ranks among the largest in the world. The platform offers two types of services: spot trading and trading on margin, with a leverage of 1:15. So far there are three pairs for trading: BTC/JPY, ETH/BTC and BCH/BTC.


According to the announcement regarding the US operations, the US exchange will only support bitcoin/USD pairs. There, however, are plans for the addition of other alt-coins, such as Litecoin, Ethereum, Ethereum Classic, Bitcoin Cash and more. Initially the exchange will only support deposit and withdraw via bitcoin and USD wire transfer.


Similarly to most other cryptocurrency exchanges, bitFlyer will have several customer verification levels. The first level requires name, address, email and cell phone verification and has a deposit and withdrawal limit of up to $2,000 in bitcoin per day and trade up to $3,000 in bitcoin per day. The second tier requires bank account verification and photo ID and allows users to deposit and withdraw up to $50,000 in bitcoin per day and trade an unlimited amount of the cryptocurrency.


TAGS: bitflyer  nybit license  us  bitcoin 
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