By CCN: Intercontinental Exchange’s high-profile Bitcoin project, Bakkt, has faced severe pushback from the CFTC due to a fundamental concern about how its cryptocurrency assets will be stored. In response, Bakkt is looking to obtain a BitLicense and manage custody of the coins themselves. Unfortunately for ICE and associates, BitLicenses can take years to receive. New York’s BitLicense: A Historically Slow Process As CCN reported, Bitstamp waited over three years to receive a BitLicense, which give crypto firms permission to operate in New York. The state’s Department of Financial Services has picked up the pace of issuing BitLicenses, but all
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