the Tagomi Trading LLC, a subsidiary of the New York-based Holding Tagomi Inc., must operate with the regulatory blessing of the regional Supervisory authority New York State Department of Financial Services (DFS). Since 2015, the New York company must first obtain the so-called BitLicense, before they are allowed to offer financial services with digital Assets.
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28. March 2019BTC$4.033,06 0.43%part Facebook Twitter LinkedIn xing mail
Both a Virtual Currency License, as well as a Money Transmission License, was able to secure Tagomi Trading on the part of the competent regulator. This is from a press release, the the DFS on may 27. March published on its Website.
in order for the financial service provider may operate also in the area of crypto-Assets and about financial products in a Bitcoin based to offer. The Money Transmission License is for the benefit of the company, however, with respect to its activities as a Broker. Because from now on, the authority also allows the implementation of Order placements for digital currencies such as BTC, ETH, BCH and LTC. As the DFS stresses, however, are securities, except as defined by the SEC. With a Security Token Tagomi will have to do for the time being.
Tagomi first Broker with approval for Bitcoin brokerage activities
With the regulatory stamping is Tagomi, the “first New York Broker for digital currencies” like Bitcoin.
We welcome the thorough Review and the careful handling of the DFS with the market actors in order to create a more transparent and fairer market conditions.
Greg Tusar, CEO of Tagomi Trading LLC
the competent Department of Financial Services is ambitious. They wanted to create a fair market environment for Bitcoin & co., the institutional investors can be:
The DFS is for the promotion of innovation and strengthening the competitiveness of the sector is in virtual currencies in New York.
Linda A. Lacewell, Director of the DFS
And further: “the approval of The DFS to Tagomis licenses offers the consumer more protection in a constantly evolving global financial market.”
Institutional investors
Tagomis core business is primarily the offering of brokerage services for institutional investors. A field which is experiencing for some time a strong boost. Finally, although there are a number of crypto exchanges. Regulated financial services for institutional investors in the crypto-Ecosystem, however, is scarce.
For 2015, the DFS for the supervision of the fast-growing crypto-sector is entrusted. Since then, the authority granted to 18 companies, the coveted BitLicense. This is the highest regulatory order in terms of crypto-business practices in the U.S. state of New York.
The consent of the authority was, however, scheduled in Tagomi. Already at the beginning of March, the company was able to collect in a Funding round of about twelve million dollars. Among the investors, the Yale Fund, Paradigm in addition to Pantera Investments.
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