itBit: New York Financial Regulator Grants Virtual Currency License To Xapo

The New York Department of Financial Services has granted new virtual currency license called "BitLicense" to digital financial services provider Xapo Inc. to offer their bitcoin wallet and offline vault services to New Yorkers. Xapo gained the license after the NYDFS scrutinized company's anti-money laundering, anti-fraud, capitalization, consumer protection, and cybersecurity policies.