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Square Jumps After Receiving License to Let New York Customers Buy and Sell Bitcoin

Selina Wang, Lily Katz
Square Jumps After Receiving License to Let New York Customers Buy and Sell Bitcoin

Square Inc. shares climbed to their highest price ever after New York granted the company a virtual-currency license, letting customers in the state buy and sell Bitcoin. Chief Executive Officer Jack Dorsey said earlier this year that the company would introduce Bitcoin trading to almost all users of Square Cash, which allows people to transfer money to friends and family. Bitcoin trading has helped fuel growth for the app, which had more than 7 million monthly active customers in December.

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