Stellar Lumens News Today – September 26

Stellar
  • Coinbase Announces Support for Stellar Lumens (XLM), Algorand, and Chainlink
  • NYDFS Faces a Lawsuit Filed by Theo Chino and Chino Ltd.

Stellar Lumens News Today – Coinbase – one of the largest digital currency trading platforms in the world – extends its support to three digital currencies in New York. The crypto trading platform just announced the expansion of support; this means it would be adding three new digital currencies to its New York platform. Over the past years, the trading platform has been avoiding adding support for digital currencies in New York. The reason is that New York has a lot of strict laws regarding digital currencies.

Coinbase Announces Support for Stellar Lumens (XLM), Algorand, and Chainlink

To conduct digital currency trading operations in New York, a trading platform needs a BitLicense. A BitLicense is mandatory for the operation. The financial authority of the state – NYDFS – imposed these regulations in 2015. In addition, the regulator also oversees the digital currencies that are added to these crypto trading platforms for trading.

For its users in New York, Coinbase just announced support for three digital currencies. The new tradable digital currencies on the platform are Stellar Lumens (XLM), Algorand, and Chainlink. According to the announcement, these digital currencies would be available for trade both on Coinbase Pro and on Coinbase.com.

“Stellar Lumens (XLM) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, and store Stellar Lumens (XLM) on Coinbase.com or using our iOS and Android apps.”

NYDFS Faces a Lawsuit Filed by Theo Chino and Chino Ltd.

Stellar News Today – the NYDFS is currently facing pressure from a lawsuit filed by Theo Chino and his firm Chino Ltd. The entrepreneur filed the lawsuit against the NYDFS to abolish BitLicense. The process is exclusively for New York, and the procurement costs are from $50k to $100k. Chine said that the process is expensive and cumbersome. In addition, these restrictions are exclusive only in New York.

In July this year, the NYDFS also moved to a new division under Superintendent Linda Lacewell. The new division is now in charge of supervising and licensing digital currencies. After the announcement, the price of Stellar Lumens (XLM) surged enormously.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$0.00
stellar
Stellar
$0.00

At the press time, XLM to USD price is up by more than five percent, leaving the digital currency to trade at $0.5846. Chainlink has been one of the best performing digital currencies over the past week. Chainlink is currently the 18th largest digital currency by market cap. However, the digital currency is down by about two percent over the past day. Algorand (ALGO) is also in the red; the digital currency is down by about 6 percent over the past day.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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