New York regulators said that Bittrex Inc., one of the largest crypto exchanges in the U.S., must stop operating in the state on April 11 over concerns about its anti-money laundering and sanctions compliance and other deficiencies.
It’s the first time the Department of Financial Services has denied a license to a virtual currency exchange for substantive reasons. The agency has issued licenses to 19 virtual currency companies since 2015, including two under new acting Superintendent Linda Lacewell.
Along with its concerns that Bittrex would be unable to meet requirements to protect against illicit funds flowing through its system, the ...
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