Genesis Global Trading has agreed to pay $8 million and give up its BitLicense to settle anti-money laundering and fraud charges against it, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said Friday in a statement.
Regulators Not Afraid Take Action Against Crypto Rule Breakers, NYDFS Chief Says
The regulator has brought enforcement actions against Coinbase and Robinhood.
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
BitFlyer USA Fined $1.2M by NYDFS for Not Meeting Cybersecurity Requirements
https://www.dfs.ny.gov/system/files/documents/2023/05/ea20230502_bitflyer_usa_inc.pdf
Fed, NYDFS assess their supervisory performance after March’s big bank failures
Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management.
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.
‘Ludicrous’ idea that Signature Bank’s collapse was connected to crypto, says NYDFS head
The superintendent of the New York Department of Financial Services reportedly dismissed claims the U.S. government was working to implement ‘Operation Choke Point 2.0’.
Former NY Regulator: Crypto Isn’t the Reason Why Signature Bank Was Closed
But instead, the firm did not provide reliable and consistent data, creating a significant crisis of confidence in the bank’s leadership, Maria Vullo, previously a superintendent at the government department, told CoinDesk TV’s “First Mover.”
Signature Bank Shutdown Caused by ‘Crisis of Confidence’ in Leadership, NYDFS Says
The New York Department of Financial Services denied that Signature Bank was shut down for crypto-related reasons, instead saying the bank’s leadership did not provide reliable information about its operations over the past weekend.
SEC Objects to Binance.US’ $1B Voyager Deal, Alleging Sale of Unregistered Securities
Federal and New York regulators object to the billion-dollar deal, saying it is potentially unlawful and discriminatory.
New York state announces another upgrade to its virtual currency monitoring capacity
The New York State Department of Financial Services did not describe its new capacities, but said they will contribute to the detection of a variety of illegal activities.
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.
State of Crypto: Interpreting the Paxos-Binance Tea Leaves
Remember how the U.S. Securities and Exchange Commission’s declaration of war against crypto staking was big news for like two days? This week we’re looking at the other big news from last week: Paxos and the Binance USD stablecoin it issues. The SEC has apparently alleged the sale of BUSD violates securities laws, and the New York Department of Financial Services has asked Paxos to cease issuing the token.
Former Paxos Exec: Regulators Failed to Address Crypto Collapses, Now They’re Going After ‘On-Ramps’
Jesse Austin Campbell, former head of portfolio management at the firm, says that because regulators did not adequately address the collapses of Celsius Network, Terra Luna and FTX, they are now in pursuit of on-ramps to get to Binance.
Circle blew the whistle on Binance reserves to NYDFS: Report
The company’s complaint to the New York regulator reportedly came before the SEC’s lawsuit against Paxos over BUSD and NYDFS ordering the firm to “cease minting” the stablecoin.
Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security, Says It Will Litigate if Needed
The stablecoin issuer confirmed it has received a Wells Notice from the SEC, indicating a possible enforcement action is forthcoming.
Circle Sounded Alarm on Paxos, Told NYDFS Binance’s Stablecoin Wasn’t Fully Backed: Bloomberg
New York’s top financial regulator is investigating stablecoin issuer Paxos – and, according to a new report, it was rival stablecoin issuer Circle that sounded an alarm.
New York financial regulator investigates Gemini over FDIC claims: Report
Many Gemini Earn users reportedly claimed assets in their accounts had been protected by the Federal Deposit Insurance Corporation.