Elon Musk

<div class="watcher-guru">  
 <p>Regulators in Rhode Island have officially granted a currency transmitter license to <a rel="dofollow" title="X" href="https://thebittimes.com/tag/x.html">X</a>, previously known as <a rel="dofollow" title="Twitter" href="https://thebittimes.com/tag/twitter.html">Twitter</a>. The revelation is according to information disclosed on the Nationwide Multistate Licensing System (NMLS) dated August 28.</p> 
 <p>The move marks a significant stride in the company’s expansion into the financial services sector, specifically in the realm of digital assets.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">JUST IN: 🇺🇸 X (Twitter) obtains license required for crypto payments and trading.</p> 
    <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
     <div class="publift-ad add">
      <div data-fuse="22560828227"></div>
     </div> 
    </div> — Watcher.Guru (@WatcherGuru) August 29, 2023
   </blockquote> 
  </div>
 </figure> 
 <h3 class="wp-block-heading" id="h-x-twitter-can-now-conduct-crypto-activities">X (Twitter) can now conduct crypto activities</h3> 
 <p>A currency transmitter license is a legal requirement for companies wishing to conduct any activities related to cryptocurrencies on behalf of their users. The license permits X to store, transfer, and exchange digital currencies. It also allows it to offer a comprehensive range of services related to crypto assets.</p> 
 <figure class="wp-block-image size-full">
  <img decoding="async" width="938" height="319" src="https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp" alt="" class="wp-image-109338" srcset="https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp 938w, https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp 300w, https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp 768w, https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp 380w, https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp 550w, https://cdn.thebittimes.com/images/2023/08/29/f7360beaef0c2c1e179ba158ac055040.webp 800w" sizes="(max-width: 938px) 100vw, 938px">
 </figure> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p>Rhode Island’s granting of this license adds <a rel="dofollow" title="X" href="https://thebittimes.com/tag/x.html">X</a> to a list of entities such as vc<a rel="dofollow" title="X" href="https://thebittimes.com/tag/x.html">X</a>YbePkcurrency e<a rel="dofollow" title="X" href="https://thebittimes.com/tag/x.html">X</a>changes, digital wallets, and payment processors, all of which are now legally allowed to maintain control of virtual currency transactions on behalf of others. It’s worth noting that this license is specific to Rhode Island, one of the 50 US states.</p> 
 <p><strong>Also read:&nbsp;Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC</strong></p> 
 <p>On July 23, Twitter’s owner, Elon Musk, announced a rebranding of the company’s logo to “X.” He stated that the Twitter brand and its bird icon would be phased out gradually. The platform officially transitioned to the new logo a day later. This move also sets Musk and his vision of making X into an everything app on the right track.</p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div> 
 </div> 
</div> 
<div class="cs-entry__tags">
 <ul>
  <li>crypto</li>
  <li>Elon Musk</li>
  <li>Twitter</li>
  <li>X</li>
 </ul>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/x-twitter-obtains-license-required-for-virtual-currency-tbt60818.html">https://thebittimes.com/x-twitter-obtains-license-required-for-virtual-currency-tbt60818.html</a></p>

X (Twitter) Obtains License Required For Virtual Currency

Table of Contents

TheBitTimes

Other articles published on Aug 29, 2023

Golden Inu’s Impressive 16% Growth and Anticipation for CoinMarketCap Listing

Crypto’s Big Week: Grayscale and Bitcoin ETF Decisions by US SEC

dYdX to unlock 6.52M tokens worth $14M for community treasury, rewards

“SEC Continues to Ignore the Law”: John Deaton Questions Handling of Crypto Regulation

Grayscale wins against SEC - Bitcoin pumps

Clockwork’s Farewell: The Solana Smart Contract Project Will Close in October

Join our free newsletter for daily crypto updates!