The New York Department of Financial Services (DFS) is drawing some internal heat over whether it’s doing a good job overseeing crypto activity through its BitLicense program, according to a review from New York State Comptroller Thomas DiNapoli.
Crypto World Cautiously Hopeful as California Acts in Absence of U.S. Feds
Crypto insiders feel they’ve been burned before in the cauldron of New York’s BitLicense, but they fell that California’s implementation leaves some room for hope.
Can Regulators Ever Keep Up With Crypto Markets?
NYDFS calls for public feedback on proposed crypto regulatory guidance
The proposals included stricter standards on risk assessments for crypto firms as well as a framework for designating token projects to the NYDFS’ greenlist
Société Générale subsidiary becomes the first fully-licensed crypto provider in France
Forge will have a right to custody digital assets, to purchase and sell them for legal tender, and to trade them against each other.
New York City: A Crypto Sandbox in a Big Business Playground
The Big Apple is big everything. The world’s financial center, it also has a huge population not only of talented developers to hire, but consumers to sell to. In such a huge and bustling ecosystem, crypto may not rate as the city’s highest priority. But like it or not, the No. 12 spot in CoinDesk’s Crypto Hubs 2023 is a place crypto companies must be.
NYDFS adopts regulation to assess supervisory costs for licensed crypto firms
Since 2015, crypto firms operating in the state of New York have largely been required to apply for a BitLicense to offer services.
NY Financial Regulator Adopts Virtual Currency Assessment Rule
The New York Department of Financial Services (NYDFS) has adopted a new regulation for how crypto companies will be assessed for costs associated with their supervision.
Illinois Officials Pushing State Crypto Licensing to Emulate New York’s BitLicense
Illinois is trying to follow in New York’s crypto footsteps with a new oversight regime, according to David DeCarlo, Illinois’ first regulatory innovation officer, who is among the prominent advocates for the plan now being shepherded through the state legislature.
Trading Platform eToro Gains New York BitLicense to Provide Crypto Services
The platform also obtained a money transmitter license from the U.S. state’s financial regulator.
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.
New York State issues guidance for banks seeking to engage in activities with crypto
The state, a notoriously demanding regulator of the industry, has released detailed guidelines for banks’ applications; some licensed banks may have to play catchup.
NYDFS proposes regulation to assess costs of ‘supervision and examination’ for licensed crypto firms
Though some crypto firms operate in New York with a BitLicense, many including NYC Mayor Eric Adams have criticized the licensing regime as a difficult barrier to cross.
New York Mayor urges state to abandon ‘stifling’ BitLicense scheme
“We have to continue to be competitive” the mayor said in a keynote interview at a London crypto conference where he suggested scrapping the states’ BitLicensing requirement.
BitLicensed Crypto Firms Ordered to Pay Annual Assessment Fees in New York
The fees will bring virtual currency companies on par with those paid by banking and insurance institutions as a way for the state to recoup operating expense costs and “best support” the industry.
Billionaire Bill Ackman calls for crypto clarity in New York
Billionaire Bill Ackman has called upon the city authorities to ensure that more innovators don’t migrate because of the regulatory hurdles.
Meet the $10B Asset Manager With a 10,000 BTC Treasury, feat. NYDIG’s Robby Gutmann
One of the (quietly) largest players in the institutional bitcoin space discusses NIDIG, the changing investor landscape and more, in his first-ever podcast interview.
Former BitLicense Chief to Manage Andreessen Horowitz’s Cryptocurrency Efforts
Anthony Albanese will become chief regulatory officer for the tech ventures giant in November.
PayPal Granted New York’s First ‘Conditional BitLicense’ to Offer Crypto Services
The New York Department of Financial Services license allows PayPal to offer cryptocurrency buying and selling through a partnership with Paxos.
Stone Ridge Calls Its $114M in Bitcoin ‘Primary Treasury Reserve Asset’; NYDIG Unit Raises $50M
NYDIG raised the $50 million from FinTech Collective, Bessemer Ventures and Ribbit Capital.
