On June 18th, according to CoinDesk, Cumberland DRW, a digital asset trader and liquidity provider, announced on Monday that the New York State Department of Financial Services (NYDFS) has granted it a BitLicense for virtual currencies. Cumberland is a subsidiary of DRW, a high-frequency trading company headquartered in Chicago. Earlier this year, Fidelity chose Cumberland to buy and sell Bitcoin for its Bitcoin spot ETF.
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