New York Attorney General Letitia James introduced on May 5, 2023 a proposed bill that, if enacted, would significantly tighten regulation over digital asset market participants and exchanges. While the New York State...more
6/22/2023
/ Anti-Fraud Provisions ,
BitLicense ,
Brokers ,
Cryptocurrency ,
Digital Assets ,
Disclosure ,
Enforcement Actions ,
Financial Services Industry ,
New York ,
NYDFS ,
Proposed Legislation ,
Securities and Exchange Commission (SEC) ,
State and Local Government ,
Virtual Currency
In the depth of a crypto winter, the New York State Department of Financial Services (DFS) issued guidance (the Guidance) on custodial standards for those with a BitLicense or that are registered as New York state limited...more
Morgan Lewis submits second comment letter on the proposed rules.
The New York State Department of Financial Services (DFS) is expected soon to issue “first-in-the-nation” cybersecurity regulations that will apply to...more
The New York Department of Financial Services has issued proposed “first-in-the-nation” cybersecurity rules that could place a heavy compliance burden on affected financial companies; Morgan Lewis submitted a comment letter...more
New “first-in-the-nation” cybersecurity rules in the pipeline for banks, insurers, and financial services companies regulated in New York could prove costly for companies, but will they improve cybersecurity?...more
Addressing regulatory concerns pertaining to consumer protection, market stability, and law enforcement, the Framework expands on the CSBS draft framework released in December 2014.
The Conference of State Bank...more
10/15/2015
/ Bank Secrecy Act ,
BitLicense ,
CSBS ,
Cybersecurity ,
Disaster Preparedness ,
Disclosure Requirements ,
EFTA ,
Licenses ,
NMLS ,
Notice Requirements ,
NYDFS ,
Regulatory Standards ,
Risk Management ,
Startups ,
Third-Party ,
Virtual Currency