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Nalezeno "NYDFS": 125

NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

23.1.2023
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer...

NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

23.1.2023
“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship," said the NYDFS

New York’s Chief Financial Regulator Mandates Firms to Separate Customers' Crypto Assets from Their Own

23.1.2023
New York’s chief financial regulator plans to release new guidance that will mandate companies to separate their own crypto assets from that of customers'. The New York State Department of Financial Services (NYDFS) will also require state-regulated firms to disclose how they account for clients'...

In Wake of FTX, New York Reminds Crypto Firms to Segregate Customer Funds

23.1.2023
After crypto exchange FTX's bankruptcy proceedings revealed poor segregation of customer funds, the New York regulator is reminding service providers to keep clean records

Coinbase & NYDFS to settle compliance investigation

5.1.2023
The New York Department of Financial Services (NYDFS) has officially announced a consent order in which it will engage its efforts in unraveling factors supposedly overlooked in the case of the compliance program Coinbase. The factor included in this consent order is the levy of a penalty amounting...

Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations

4.1.2023
Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s...

New York State issues guidance for banks seeking to engage in activities with crypto

15.12.2022
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

1.12.2022
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

NYDFS Proposes Regulation Allowing It to Charge Crypto Companies in New York for Supervision Costs

1.12.2022
The New York Department of Financial Services (NYDFS) published a proposed regulation on Thursday that lays out how the state regulator would assess New York-regulated crypto companies for costs associated with their supervision

Robinhood Crypto Fined $30 Million by New York Regulator for ‘Significant Failures’ in Multiple Areas

3.8.2022
The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The...

New York financial regulator fines Robinhood's crypto division $30M

2.8.2022
“As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance,” said superintendent Adrienne Harris

NYDFS Chief Says Regulators Need to Develop a ‘21st Century Framework’ for Crypto

19.5.2022
New York’s top financial regulator believes the current approach to digital asset regulation – both at the state and federal level – is due for an update

NYDFS calls for crypto firms to use blockchain analytics

28.4.2022
The regulatory agency asked crypto firms to adopt methods to ensure greater risk assessment for potentially problematic transactions

BitLicensed Crypto Firms Ordered to Pay Annual Assessment Fees in New York

19.4.2022
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

New York Senate Authorizes NYDFS to 'Assess' Crypto Companies

9.4.2022
The New York State Senate is boosting the state’s Department of Financial Services (NYDFS) efforts to oversee the cryptocurrency sector. The Senate passed its fiscal year 2023 budget early Saturday, which included a provision tasking NYDFS with developing a new “assessment” or charge for...