What is the BitLicense?

The BitLicense is a set of regulations put forward by the New York State Department of Financial Services (NYDFS) for bitcoin companies serving New York (NY) residents. In its current form, the requirements set forth by the BitLicense are extremely invasive and would compromise the majority of our user base’s privacy. For this reason, among others, we have decided to "opt-out" of serving NY residents. You can read more about what the BitLicense means for Bitfinex customers and you can read the actual BitLicense.