Galaxy
Galaxy Digital has received both a BitLicense and a Money Transmission License from the New York State Department of Financial Services, giving the company approval to expand regulated digital asset operations for institutional investors in New York.
The licenses were issued to Galaxy’s subsidiary, GalaxyOne Prime NY, which provides trading and financing services tied to digital assets.
The approval strengthens Galaxy’s position in one of the most heavily regulated cryptocurrency markets in the United States. New York’s BitLicense framework, introduced in 2015, is known for imposing strict compliance requirements covering anti-money laundering controls, cybersecurity protections, capital reserves and consumer safeguards. Only a limited number of crypto firms have successfully obtained the license.
The approval also comes as the company works through a difficult period for crypto markets. Galaxy recently reported a first-quarter net loss of US$216 million, largely tied to declining digital asset prices, although results exceeded analyst expectations.
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