A third bitcoin ATM operator BitLicense was awarded to Cottonwood Vending LLC, joining less than 20 cryptocurrency businesses to receive regulatory approval within the Empire State.

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Recently, the New York State Department of Financial Services (NYDFS) has increased its efforts to award cryptocurrency licenses, awarding three in January alone.

This is a significant increase given the fact that only one was granted in 2015, as well as one in 2016, and two in 2017.

After a three-year application process, Coinsource became the first bitcoin ATM operator to receive a BitLicense in Nov. 2017.

Earlier this month, Coinstar announced they will be trialing bitcoin payouts at select locations in California, Texas, and Washington.

According to Cottonwood’s Twitter, the company is the ““largest [New York] bitcoin ATM network,” and that customers will be able to both purchase and sell bitcoin using their machines.

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