ItBit has filed an application for a state banking license in New York.
In statements to CoinDesk, New York Department of Financial Services (NYDFS) spokesman Matthew Anderson confirmed the filing. ItBit may be approved within the next few weeks, according to a report by Reuters, citing individuals with knowledge of the process.
Notably, the banking license application reportedly names several well-known political and financial figures in the US, including former Federal Deposit Insurance Commission (FDIC) chair Sheila Bair and former New Jersey Senator Bill Bradley.
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