Read full story here: http://cryptocoinjunky.com/bitcoin-friendly-square-reaches-all-time-high-market-cap-after-receiving-bitlicense/

The multi million dollar payment provider, Square, search 3% overnight after the company obtained a BitLicense from the New York Department Of Financial Services. This license is required to operate cryptocurrency platforms.

BitLicense is Difficult to Obtain

New York currently has the strictest policies and regulations for cryptocurrency exchanges. In 2015, when cryptocurrency exchanges had substantially lower digital asset then today, BitStamp revealed that simply applying for a BitLicense can cost upwards of $100,000.

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BitStamp later emphasized that obtaining the BitLicense allowed their exchange to work smarter as far as understanding regional regulations. They also noted that the $100,000 fee was well worth the value.

The BitLicense fee has increased significantly read more