40.5 C
Monday, May 27, 2024
HomeExchange NewsFlorida Residents Are Now Permitted to Trade on Blockchain.com

Florida Residents Are Now Permitted to Trade on Blockchain.com


Related stories

Florida has gained access to another cryptocurrency exchange today through Blockchain.com, making this the third official exchange Floridians can utilize for trading, buying, and selling digital assets.

Florida Citizens Are Now Permitted to Trade Through Blockchain.com

Valued at approximately $5 billion at the time of writing, Blockchain.com is based in London but is looking to hire dozens of people in Miami, a city known as a growing tech hub and crypto base. Thus far, the region has done wonders for bitcoin and is working to establish the asset as an official currency, with mayor Francis Suarez working to make it so that city workers are ultimately paid in BTC.

Not long ago, Blockchain.com garnered its money transmitter license from Florida. While several politicians are striving to make Florida more crypto friendly, present laws require that all companies in the state buying and selling crypto must apply for this license. Crypto law expert Justin Wales said:

The ruling by the OFR resolves a conflict that had developed…over whether crypto sellers in Florida needed a license to sell their own supply of crypto. Now it is clear that they do. This doesn’t impact crypto users or merchants accepting cryptocurrencies for goods or services but represents an added regulatory burden for some businesses in the crypto space.

Five months ago, the platform managed to get its hands on a whopping $300 million through a new funding round. In a statement, the company’s CEO and co-founder Peter Smith explained:

Blockchain.com has been [in cryptocurrency] since the beginning, and the reason is because customers trust us to be a reliable, safe, and secure provider of infrastructure for institutions all over the world.

Suarez was very vocal about his support for Blockchain.com and expressed his eagerness to see what the company could do for the people of his state. He mentioned in an interview:

While the Miami Movement is all about building a city that lasts forever and works for everyone, it has stretched far beyond Miami. I’m thrilled that our movement has encouraged tremendous innovation and investment in the entire state. I commend Blockchain.com for its continued hiring efforts and opening up its products so all 22 million Florida residents can now trade crypto, putting financial independence at our fingertips.

A Lot of Traffic

Per data from Coin Market Cap, Blockchain.com garners about one million customer visits per week, placing it in the top 20 visited cryptocurrency exchanges across the globe. Michael A. Finney – president and CEO of the Miami-Dade Beacon Council – stated:

As a hub for innovation, cybersecurity and fintech, Miami-Dade is a natural fit for Blockchain.com. Our international business community offers the talent, partners, and global connectivity that companies depend on for continued growth. We support Blockchain.com’s efforts to bring more crypto trading availability to Florida residents, and count on the high value, high growth jobs they bring to our community.

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.


Latest stories