tl;dr
Coinbase Assets has obtained a license from the New York Department of Financial Services (NYDFS) to conduct Virtual Currency Business Activity. This allows the company to offer new crypto products to residents of New York, including Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO), and Meti...
Coinbase Assets has secured a Virtual Currency Business Activity license from the NYDFS, enabling the offering of new crypto products to New York residents, including Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO), and Metis (METIS).
This regulatory approval reveals a shifting perspective in the NYDFS's stance on crypto, reflecting broader regulatory changes in the US and signaling a significant win for Coinbase amidst ongoing legal battles.
With this license, Coinbase can now provide a wide range of established crypto assets to New York residents, indicating a favorable shift in regulatory attitudes.
It's noteworthy that the NYDFS has recently shown a more positive approach to crypto, exemplified by its approval of Ripple’s new RLUSD stablecoin and signifies a broader evolution in regulatory attitudes in the US, benefiting Coinbase and its subsidiaries.
Despite how these assets perform in the New York market, the approval represents a pivotal shift in regulators' perspectives, boding well for Coinbase and all its subsidiaries.
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