NYDFS grants BitLicense to Anchorage Digital for 2025 services

Anchorage Digital has secured a BitLicense for its New York subsidiary, announced on December 16, 2024.

This approval, granted by the New York Department of Financial Services (NYDFS), enables the firm to provide cryptocurrency services beginning in 2025.

With this license, Anchorage becomes the 34th company authorised to operate under the BitLicense framework since its introduction in 2015.

Nathan McCauley, CEO of Anchorage Digital, stated that the BitLicense would allow the company to offer "regulated and efficient crypto trading to clients based in New York."

However, at the time of publication, Anchorage was not yet listed on the NYDFS's official list of regulated entities in the state.

While the BitLicense program has faced criticism for being restrictive, it has been adopted by several major players in the crypto space, such as Circle, Coinbase, and Gemini.

In contrast, Genesis Global Trading gave up its BitLicense in January after a settlement with the NYDFS regarding fraud allegations tied to the Gemini Earn program.

New York remains a focal point for cryptocurrency activity in the United States.

The state's regulatory environment continues to shape the industry's landscape, though it is also home to frequent enforcement actions targeting crypto firms and individuals.

New York City Mayor Eric Adams, who took office in 2022, has voiced criticism of the BitLicense program, calling it "stifling."

In December, the mayor publicly acknowledged the significant increase in value of his Bitcoin holdings, which he began accepting as part of his salary.