itBit Support Center

What is itBit Trust?

Last Updated: Oct 01, 2015 09:21PM UTC

The itBit Trust Company establishes itBit as the first U.S. bitcoin exchange able to legally operate in New York State. Our New York-based exchange accepts customer applications from across the U.S. Through the trust company and our network of American banking relationships, itBit customers using our New York-based exchange can rest easy knowing:

  • All assets are held on a platform regulated by the New York Department of Financial Services

  • itBit serves as legal Custodian for all assets held with our Trust company and applies a fiduciary standard of care to their safekeeping with a duty to put our clients' interest above our own

  • U.S. customer funds are securely held within the regulated U.S. banking system

  • All U.S. customers receive professional reporting with monthly and quarterly gain / loss statements and year-end 1099 tax forms

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