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“In 10 years Time, Bitcoin Will Be The World Only Currency”- Jack Dorsey, Twitter CEO

Facebook Bans Crypto Ads

Time and again Twitter CEO and Square founder Jack Dorsey has repeatedly shared his enthusiasm for digital currencies especially Bitcoin.

And now Jack Dorsey’s company Square Inc., has been awarded a coveted license to deal in cryptocurrencies in New York. Square Inc., is a payments company founded and run by Twitter CEO Jack Dorsey.

New York State Department of Financial Services (NYDFS) has finally granted Square a BitLicense, becoming only the ninth such firm to win approval to operate in the state. It now legally operates as a money transmitter and digital currency exchange, according to a company statement.

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In order to maintain BitLicense license, a provider must fulfill various reporting requirements and comply with standards on anti-money laundering, cybersecurity and consumer protection.

New York is the only state that requires firms dealing in the digital assets to obtain a license to operate.

Square founder and Twitter CEO, Jack Dorsey firmly believe in Bitcoin that soon in less than 10 years time, bitcoin will be the world’s single.


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