Are you new to the cryptocurrency world and feeling a bit lost? Don't worry, you are not alone. The cryptocurrency space can be daunting for newcomers, with its many terms, abbreviations and definitions that can be difficult to understand.
ATAIX crypto glossary will help make sense of some of the most common cryptocurrency terms and definitions. Armed with this information, you'll be ready to start participating in this exciting and innovative new economy!
BitLicense is a regulatory framework designed by the New York State Department of Financial Services (NYDFS) to govern businesses that deal in digital currencies. The BitLicense regime requires businesses to obtain a license from NYDFS in order to operate in New York.
The BitLicense regime was designed with consumer protection in mind, and requires businesses to adhere to certain standards when dealing with digital currency. For example, businesses must maintain robust anti-money laundering compliance programs and customer information security practices. BitLicense also imposes capital requirements on businesses and requires them to submit regular reports to NYDFS.
The BitLicense regime has been criticized by some in the digital currency community who argue that it is too burdensome and prevents innovation. However, others have praised the BitLicense regime as a necessary and sensible way to regulate an emerging industry.