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Cryptocurrency Custodian BitGo Obtains New York Trust License

Mary Liu

Summary: BitGo, a digital asset custody and security company has obtained the New York Trust License from the New York State Department of Financial Services. Within the license, BitGo can expand the operation by providing custody services for institutional clients in New York.  As part of regulatory requirements, the firm should implement the "know your customers" (KYC) and ...

BitGo, a digital asset custody and security company has obtained the New York Trust License from the New York State Department of Financial Services.

Within the license, BitGo can expand the operation by providing custody services for institutional clients in New York. 

As part of regulatory requirements, the firm should implement the "know your customers" (KYC) and "Anti-Money Laundering" (AML) procedures, as well as store cryptographic keys offline in bank-level vaults.

By Mary Liu

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