Today, Robinhood and LibertyX gained approval to work in virtual currencies in New York. Robinhood is a stock trading app that recently created some controversy when they released interest-bearing bank accounts that are not protected by the Securities Investor Protection Corporation.
The app will expand the company’s affiliation with cryptocurrencies for New Yorkers. The feature isn’t new for most Robinhood users. The company waited for NYDFS approval to offer crypto services to New Yorkers.
New York approved seven cryptocurrencies on Robinhood, “including Bitcoin, Ether, Bitcoin Cash, and Litecoin.” US residents in many other states already had access: Robinhood Crypto was already available in most of the US, though it has yet to be released publicly.