On September 18, the New York State Department of Financial Services (the DFS or the “Department”) issued proposed guidance for BitLicensees and limited-purpose trust companies (collectively, VCEs) seeking to list virtual...more
The Proposed Guidance would require enhanced criteria for coin-listing and delisting procedures for New York-licensed virtual currency entities. On September 18, 2023, the New York Department of Financial Services (DFS)...more
What Happened? The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced...more
Financial Firms Launch Crypto Products for Custody, Tokenization and Staking - In a recent press release, BitGo announced its plans “to create the first Bitcoin-only trust company” by partnering with Swan Bitcoin, a leading...more
In this issue, we discuss the new initiatives under New York's BitLicense regime that clarify and streamline the regulatory landscape for virtual currency entities doing business within the state. We also examine the...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more