Will Resiliency Carry the Digital Asset Sector Through 2024: State-Level Developments — The Crypto Exchange Podcast
Understanding NFTs and Their Legal Implications
The New York State Department of Financial Services has issued an industry letter detailing the prior approval process for all New York banking organizations seeking to engage in new or significantly different virtual...more
Consistent with New York's status as a financial services and technology hub, the New York State Department of Financial Services (the "NY DFS") announced on July 23, 2019 a new Research and Innovation Division (the...more
On July 23, 2019, the New York Department of Financial Services announced creation of a Research and Innovation Division to keep pace with FinTech advances. NYDFS Research and Innovation Division created to keep pace with...more
Blockchain technology combines several features of existing financial infrastructure. It is partly a mass repository of historical transactions, partly a decentralized clearinghouse, and partly a digital currency. It is also...more
The New York State Department of Financial Services (“DFS”) has issued its fifth BitLicense to date, continuing a marked effort to bring legitimacy and controls to the virtual currency (“VC”) industry, whose advantages in...more
Bitstamp, the third largest Bitcoin exchange in the world and located in Luxembourg, announced on April 25, 2016, that it has obtained a payment institution license from Luxembourg, which means it is the first nationally...more
Federal Reserve Releases First Determination of Aggregate Consolidated Liabilities of all Financial Companies - On July 1, the Federal Reserve Board released its first determination of the aggregate consolidated...more
Regulatory Developments: Superintendent Lawsky Announces Final BitLicense Regulations - New York State Department of Financial Services (NYDFS) Superintendent Benjamin Lawsky, at the BITS Emerging Payments Forum,...more
Editor’s Note - FDIC Highlights Efforts to Provide Regulatory Relief for Community Banks: On February 10, 2015, Doreen Eberley, Director at the Federal Deposit Insurance Corporation (FDIC), testified before the U.S....more
CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more
“Virtual currencies” in general, and bitcoin in particular, continue to attract media attention as well as intense public and regulatory scrutiny. In the United States, the recent establishment of the Digital Currency...more
On December 18, New York State Department of Financial Services (DFS) Superintendent Benjamin Lawsky delivered remarks on the revised BitLicense framework at the Bipartisan Policy Center in Washington, DC. If adopted, the...more
On December 16, the Conference of State Bank Supervisors (CSBS), a state banking watchdog group, released a draft model regulatory framework on virtual currency (Draft Framework) that is less stringent than the originally...more
In this issue: - Delaware Chancery Court Declines to Dismiss Fraud Claims Against Private Equity Fund and Directors - Agencies Amend Regulatory Capital and Liquidity Coverage Ratio Rules - FINRA Proposes...more
It happened: Benjamin Lawsky, Superintendent of New York’s Department of Financial Services (DFS) announced the release of the DFS’s much-anticipated proposal for a BitLicense, stating “We have sought to strike an appropriate...more