ARTICLE
22 August 2019

NYDFS Grants Charter For Trust Company To Custody Bitcoin

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The New York State Department of Financial Services ("NYDFS") approved the application of a trust company to act as a custodian for Bitcoin.
United States Finance and Banking

The New York State Department of Financial Services ("NYDFS") approved the application of a trust company to act as a custodian for Bitcoin. NYDFS authorized Bakkt Trust Company LLC ("Bakkt") to offer custody services for Bitcoin following the introduction of trading physically delivered Bitcoin futures contracts on the Intercontinental Exchange Futures U.S. Under its charter, Bakkt will provide services to institutional customers.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More