World’s Largest Bitcoin ATM Operator Receives BitLicense

  • Coinsource, the world’s largest Bitcoin ATM operator has become the first in its field to be granted a Virtual Currency License (also known as a BitLicense) from the New York Department of Financial Services (NYDFS)


  • Coinsource general counsel, Arnold Spencer explained, “It’s been a long, involved process. The initial application was [in 2015, and] since then what we’ve seen is a great deal of diligence on NYDFS’ part, really pushing us to both explain and in some cases improve our policies and procedures”


  • The comapny has over 200 ATM machines and plans to expand its operations to Japan, South Africa and Puerto Rico where they already have obtained a money transmission license.

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