TechFlow news — FTX US has applied for a trust charter from the New York State Department of Financial Services (NYDFS). Obtaining a trust charter would allow the platform to exercise fiduciary powers, which are not available under a BitLicense alone. A limited-purpose trust company can engage in money transmission in New York without needing a separate New York money transmission license. Upon regulatory approval, FTX.US will be permitted to offer cryptocurrency services to residents of New York.
Additionally, FTX announced the appointment of Marissa MacDonald as Chief Compliance Officer of FTX Trust Company, LLC, the newly formed limited-purpose trust company under FTX US in New York State.
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