United States:
NYDFS Grants Charter For Trust Company To Custody Bitcoin
22 August 2019
Cadwalader, Wickersham & Taft LLP
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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.
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