The decision comes amid a time when many US exchange market participants appear to be jostling for position ahead of the release of the final BitLicense regulatory framework this May. Coinbase launched its exchange product to customers in 24 states in January, while the Winklevoss Capital-backed Gemini intends for its launch to coincide with the release of the BitLicense.
Despite the number of entrants competing for a small but burgeoning market, itBit CEO Charles Cascarilla is confident that his exchange has done enough to separate its product owing to its status as "the only regulated entity in the entire bitcoin world".
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