Bitcoin Prices Jolted As Square Cash Trading Approved By New York Statebr>
Square Cash, the mobile payments app, can trade bitcoin in New York, according to the state’s Department of Financial Services.
The regulator granted Square a virtual currency license, which will allow the mobile app’s users to trade bitcoin in the state. Users elsewhere have been able to trade it since late January.
Bitcoin prices, which have been in the doldrums, spiked up about $400 on the news. Square Cash claims seven million monthly active users.