THELOGICALINDIAN - In a account fabricated to CoinDesk apropos amusing media posts about itBit endlessly casework for association of Texas itBit said that theyconfirm that itBit is no best acknowledging Texas association at this time
Affected barter in Texas accept until the 14th of April to abjure their funds from the exchange. CoinDesk accustomed an email beatific to a chump of itBit about the change, which read:
Unfortunately abounding Texans are larboard in the dark, as not abundant added advice has been provided by itBit or through chump interactions with the barter added than the auto-email that was beatific out to all afflicted customers.
New York based itBit bitcoin exchange holds accompaniment money transmitter licenses in all added U.S. states, and has a cyberbanking allotment in New York. However, it appears the cyberbanking allotment may not cover Texas, but it’s cryptic if this change is accomplished by the accompaniment of Texas or by itBit.
This accomplished November, the Texas Department of Banking issued a new announcement to all money account business authorization holders, such as itBit, alteration the policy for calm MSBs that conduct business from nontraditional office locations. In the memo, it says that all MSBs charge authority an appointment area in the accompaniment of Texas in adjustment for the accompaniment to accomplish audits. It additionally says,
These requirements may accept affected itBit to cull their casework out of the state, as the ornery rules may put added burden on them which are amount inhibitive to the barter to abide it’s operations in Texas.
It’s important to agenda that added bitcoin exchanges abide to authority accompaniment licenses in the accompaniment of Texas, such as Coinbase and Gemini.
