Elon Musk's X Social Media Platform Acquires Crypto Payments License The social media platform
X, formerly known as Twitter, has acquired a regulatory license
that enables it to process cryptocurrency payments in the US.
The specific license
is the Rhode Island Currency Transmitter License, issued to X on August 28, according to publicly available data from
the Nationwide Multi-State Licensing System (NMLS).
With the license from
Rhode Island, X can legally conduct activities such as “maintaining control of virtual currency or transactions in virtual currency,” both for itself and on behalf of others,
an official document from the state’s Department of Business Regulation showed.
X, which is now owned
by Tesla CEO and Dogecoin fan Elon Musk, has also obtained money transmitter licenses from a number
of other states in recent weeks, but the Rhode Island license appears
to be the only one that expressly covers crypto payments.
