What itBit’s Banking Law Charter Really Means

Houman B Shadab is a professor of law at New York Law School. Here, he discusses what itBit’s recent banking law charter means for other digital currency exchanges operating in the US and beyond.

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Since their inception, bitcoin exchanges have operated under a fog of legal uncertainty. Just one day after the New York-based exchange itBit announced it had obtained a banking law charter giving it the ability to operate in all 50 states, a California official called that into question.

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