Category: NYDFS

BitGo receives trust license from New York regulators

March 4, 2021

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Goldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state. 4963 Total views 22 Total shares Major American digital asset custody and security company BitGo has acquired a New York Trust license from the New York State Department of Financial Services. According to an […]

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NYDFS hosts crypto industry competition to get real-time data on Bitlicensees

January 21, 2021

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Emerging analytics technology is the name of the game for the next stage in crypto regulation. 1037 Total views 6 Total shares New York’s financial regulator is asking for new tools to gather real-time financial data.  On Thursday, the New York Department of Financial Services announced new details of its coming “techsprint” competition: “The objective […]

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New York authorizes first Yen stablecoin operator in the US

December 29, 2020

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Japanese firm GMO will now be able to offer Yen and dollar-pegged stablecoins to the public in New York. 2384 Total views 20 Total shares New York has given the first authorization to a stablecoin backed by the Japanese Yen to operate in the U.S. Per a Dec. 29 announcement, the New York Department of […]

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New York’s Financial Regulator Wants Firms, Including Crypto Miners, to Look Closer at Climate Change Risks

October 29, 2020

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Oct 29, 2020 at 13:30 UTC New York state’s financial regulator is urging firms to pay closer attention to financial risks associated with climate change. In a letter sent to all regulated entities on Thursday, the New York Department of Financial Services (NYDFS) said that it expects firms, including virtual currency businesses, to start assessing […]

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What It Means if Companies Like Twitter Are ‘Systemically Important’ to Financial Regulators

October 23, 2020

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Oct 23, 2020 at 17:42 UTCUpdated Oct 23, 2020 at 18:08 UTC (Tingey Injury Law Firm/Unsplash, modified by CoinDesk) What It Means if Companies Like Twitter Are ‘Systemically Important’ to Financial Regulators When I first suggested Systemically Important Social Media Institutions (SISMIs) were the social media parallel to Systemically Important Financial Institutions (SIFIs), I did […]

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Regulation will keep PayPal’s new crypto services from looking anything like crypto

October 21, 2020

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For now, PayPal’s crypto payments are more about satisfying regulators than providing users with crypto capabilities. 4017 Total views 23 Total shares Earlier today, PayPal confirmed that it would be adding crypto payments to its global platform over coming months. The rollout will begin in the United States, where PayPal also became the first recipient of the New York […]

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