Cumberland, a crypto trading firm, has been granted a New York BitLicense by the New York State Department of Financial Services. This license allows Cumberland to offer institutional and over-the-counter (OTC) cryptocurrency services, bolstering its service offerings. With this acquisition, Cumberland joins 33 other companies authorized to provide cryptocurrency services in New York state. The firm expressed its commitment to working with regulators to ensure compliance and alignment with regulatory standards. The BitLicense is New York's virtual currency license.