23 Apr '15, 10pm

Bitcoin Exchange ItBit Seeks Bank License With Ex-FDIC Chair Support

Bitcoin Exchange ItBit Seeks Bank License With Ex-FDIC Chair Support

ItBit has filed an application for a state banking license in New York. In statements to CoinDesk, New York State Department of Financial Services (NYDFS) spokesman Matthew Anderson confirmed the filing. ItBit may be approved within the next few weeks, according to a report by Reuters , citing individuals with knowledge of the process. Notably, the banking license application reportedly names several well-known political and financial figures in the US, including former Federal Deposit Insurance Commission (FDIC) chair Sheila Bair and former New Jersey Senator Bill Bradley. Bair served as chairperson for the FDIC under President George W Bush, the federal agency that oversees deposit accounts and deposit insurance coverage guidelines. Bair and Bradley, along with ItBit CEO Charles Cascarilla, Liberty City Ventures founding partner Emil Woods and former Financial Accounting...

Full article: http://www.coindesk.com/bitcoin-exchange-itbit-seeks-bank...

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Exclusive: Bitcoin exchange itBit seeks New York banking licence #cryptocurrency #bitcoin via @crypcoin

Exclusive: Bitcoin exchange itBit seeks New Yor...

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