News
Adrienne Harris said she aims "to ensure we have a robust and fair financial system, and an equitable economy" in her role at the NYDFS.
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NYDFS News
The New York State Department of Financial Services (NYDFS) — also known as the DFS and NYSDFS — is a department of the New York State government that regulates financial services and products in such fields as insurance, banking and financial services. The NYDFS’s BitLicense is a business license for virtual currency activities, which is required for operating in New York. For the effective usage of an NYDFS’s Bitcoin license, New York state has come up with a definition of virtual currency (VC) business activity that covers five main points, such as transmission of VC, maintaining custody of VC on behalf of others, buying and selling VC as a customer business, performing exchange services and issuing, controlling and administering VC. There are currently nine NYDFS BitLicensed companies, some of them being Ripple, Coinbase and Square, Inc. Implementation of BitLicense by the NYDFS has forced many startups to stop working in New York.
- News
Goldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state.
10759 - News
Emerging analytics technology is the name of the game for the next stage in crypto regulation.
7802 - News
Japanese firm GMO will now be able to offer Yen- and dollar-pegged stablecoins to the public in New York.
8337 - News
The stablecoin issuer and PayPal partner wants to increase its range and scope of services by becoming the first crypto services provider to be regulated at both state and federal levels.
3930 - Newsletter
These week's news highlighted how governments test new regimes for cryptocurrency, which can be slow but are certainly some kind of progress.
4287 - Follow up
For now, PayPal's crypto payments are more about satisfying regulators than providing users with crypto capabilities.
11807 - News
The NYDFS has sent a letter to all regulated institutions engaged in crypto-related activities, asking them to submit detailed plans for weathering the coronavirus crisis.
2673 - News
New York Governor Andrew Cuomo wants crypto businesses to pay for NYDFS’ oversight to “make progress happen.”
2867 - News
The New York Department of Financial Services plans to review its crypto listing framework by late January 2020.
2522 - Analysis
New York financial watchdog approves three stablecoin offerings including BUSD, backed by Paxos and Binance. A sign of things to come?
5415 - News
The New York Department of Financial Services — the state’s finance watchdog — has formed a new division for licensing crypto-related businesses.
3220 - News
Fidelity’s crypto arm Fidelity Digital Assets Services reportedly filed with the NYDFS for a New York trust licens.
5347 - News
Facebook is reportedly seeking a New York BitLicense to comply with state regulations pertaining to Libra.
4465 - News
The New York State Department of Financial Services has granted a BitLicense to a Bitcoin ATM operator, Cottonwood Vending LLC.
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