Cumberland New York Entity Receives BitLicense from NYDFS

Odaily News Cumberland DRW, a digital asset trader and liquidity provider, said on Monday that the New York State Department of Financial Services (NYDFS) issued a virtual currency license, BitLicense, to its New York-based entity. Cumberland is a subsidiary of Chicago-based high-frequency trading firm DRW. Earlier this year, Cumberland was one of the trading firms selected by Fidelity Investments to buy and sell bitcoin for Fidelity's bitcoin spot ETF, which began trading in January. (CoinDesk)