Cash App customers can now buy and sell Bitcoin in New York. Square has been getting into the crypto space allowing Cash App users in most states access to Bitcoin, but New York was excluded from that list until now.
New York is one of the stricter states when it comes to crypto trading, but it looks like Square has cleared the necessary regulatory hurdles (i.e. they got New York’s “BitLicense“).
It is likely this good news contributed to the Bitcoin rally we saw today.
This is a relatively important move given the popularity of Square, the population of New York, and the lack of companies with BitLicenses (the list is essentially Coinbase, Gemini, Circle, a few major international exchanges like bitFlyer, and now Square).
— Cash App (@CashApp) June 18, 2018