Read their terms. They're explicitly front-running. Price data on the public site is delayed (they don't say by how much), but "market makers" can buy faster access.<p>Their FDIC insurance as a trust company covers only US dollars, not Bitcoins. Bitcoins are uninsured.<p>If you have a disagreement with the exchange part of the company, you have to go to binding arbitration in Singapore.
This is huge for the itBit team; they've been cranking away on this quietly for a couple of years at least; it's been expensive and time consuming. Congrats.
There's an error in the first paragraph of this article. A New York license allows one to operate legally in New York only, not the entire country.
It kind of sucks that Bitcoin being the poster-boy for free, anonymous currency free of government is still being pestered by governments.<p>I guess Uncle Sam wants his cut!