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Square Obtains New York State Cryptocurrency License (reuters.com)
The payment company Square has obtained a license to offer New York state residents the ability to buy and sell bitcoin through its Cash App, the company announced on Monday. "This makes Square the ninth firm to have obtained a so-called 'BitLicense' by the New York State Department of Financial Services," reports Reuters. From the report: To grant the license, the financial watchdog conducted a comprehensive review of Square's app, including its anti-money laundering, anti-fraud and cybersecurity policies, NYDFS said in statement. Square also holds a money-transmitter license from NYDFS. The San Francisco-based company, best known for selling a device that enables small businesses to accept credit card payments easily, first enabled bitcoin purchases on its app in other states in January.
Publisher of Secret of Mana, Final Fantasy, Ogre Battle, Romancing Saga, etc?
Anyone else want to rub olive oil all over Patrick Stewart's bald head?
You need a license to...
Oh, it's New York, I get it.
Is the decryption routine called "Square Root"?
Why use Bitcoin and not something like Ripple or Ethereum that has 1% or less of Bitcoin's transaction fees? The obvious answer is name recognition, people know what Bitcoin is. However, they could advertise Bitcoin, and then try to steer the actual users towards superior cryptocurrencies once they actually try to use Bitcoin.
Corruption is convincing someone that the selfless ideal is the same as their selfish ideal.
Since when New York sell bitcoin license ???
Are (any) fiat-currency and (any) cryptocurrency really equivalent, as cryptocurrency fans claim?
For example, US Dollar and Bitcoin are really equals?
Value/validity/authorization of US dollar is provided/guaranteed by US Government (and in-turn whole US Public)!
Also, not to mention, US Dollars in any US Bank is insured by US Government!
What authorization/guarantee/insurance is behind Bitcoin? Nothing!
Sorry but that is the end of discussion then!
Why do you think Satoshi Nakamoto is really hiding his identity, if Bitcoin is really such a great innovation?
He is just someone does not like media/fan attention?
Or, could it be really because Bitcoin (and all cryptocurrencies followed it) are actually Ponzi Schemes?
(So he knew very well that law enforcement would come after him sooner or later?!)
If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?
Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?
If so-called cryptocurrencies are really currency, why no company/store can use Bitcoin as currency anymore?
Because the price of Bitcoin proved to be extremely unstable to use as a currency?
Would the result be different, if Bitcoin replaced by any other "cryptocurrency"?
Aren't all work the same way?
If so-called cryptocurrencies are really money; isn't people issuing their own money, illegal already, in all countries?
If so then, why they are still not banned in all countries?
Or, they are not actually virtual currency but virtual investment?
But, if they are actually investment, why we need/want them?
What would happen to world economy, if people invested in virtual investments, instead of real investments?
Or, all so-called cryptocurrencies are actually just a modified (made decentralized and paying variable interest) Ponzi Schemes?
(Price of cryptocurrencies would keep increasing in the long term (by their design), so it is equivalent of paying variable interest to all long term investors.)
Also, since all so-called cryptocurrencies are actually financial scams (Ponzi Schemes), that means, they cannot be the solution for any of existing financial problems of our world!
As more and more people invest in cryptocurrencies, it will become harder and harder to ban their trading everywhere (because people invested in cryptocurrencies, would try to stop anyone trying to ban cryptocurrencies)!
All cryptocurrencies need to be banned globally before it is too late!