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NYDFS Virtual Currency Digital Currency

BakerHostetler

Weekly Blockchain Blog - December 2024 #3

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Digital Asset Companies Achieve Licenses, Launch Stablecoin Products - According to a recent press release, Anchorage Digital, a digital asset platform and infrastructure provider, announced that the New York State...more

Orrick, Herrington & Sutcliffe LLP

NYDFS orders digital currency trading company to pay $8 million

On January 12, NYDFS announced that it had entered into a consent order with a digital currency trading company after an investigation that found the company responsible for compliance failures that violated NYDFS’s virtual...more

WilmerHale

Key Points From NY Regulators' Crypto Listing Update

WilmerHale on

On Sept. 18, the New York State Department of Financial Services issued proposed guidance for companies holding virtual currency business licenses and limited-purpose trust companies — collectively referred to as virtual...more

Ballard Spahr LLP

NYDFS to Virtual Currency Asset Custodians: Segregate, Don’t Integrate

Ballard Spahr LLP on

On January 23, 2023, the New York Department of Financial Services (NYDFS) published a short but important notice to virtual currency asset custodians containing guidance on custodial structures in order to protect customers...more

Ballard Spahr LLP

NYDFS releases guidance focusing on custody of customers’ virtual currency in the event of insolvency

Ballard Spahr LLP on

On January 23, 2023, the New York Department of Financial Services released guidance with the stated goal of helping to protect customers of virtual currency businesses in the event of an insolvency or similar proceeding by...more

Troutman Pepper Locke

NY Department of Financial Services Releases Guidance for US Dollar-Backed Stablecoins

Troutman Pepper Locke on

On June 8, the New York State Department of Financial Services (NYDFS) issued new “Guidance on the Issuance of U.S. Dollar-Backed Stablecoins,” establishing a first-of-its-kind state standards for USD-backed stablecoins...more

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

BakerHostetler on

Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more

Troutman Pepper Locke

New York Issues Guidance on Virtual Currency Regulations and Announces Strengthening Blockchain Analytics in Response to Sanctions...

Troutman Pepper Locke on

On February 25, the New York State Department of Financial Services (NYDFS) issued Guidance to all individuals and entities subject to its regulation due to the rapidly evolving situation in Ukraine, following the Russian...more

BakerHostetler

NY DFS Approves New Stablecoin Co., Blockchain Data Solutions Announced, New Cryptocurrency Regulatory and Enforcement Actions in...

BakerHostetler on

NY DFS Approves New Stablecoin Company, Crypto Financial Products Continue Growth - New York’s Department of Financial Services (DFS) recently granted a charter under New York Banking Law to a Japanese cryptocurrency firm...more

Alston & Bird

New York Proposes Guidance for Regulated Virtual Currency Licensees

Alston & Bird on

A&B ABstract - Since the New York Department of Financial Services (“NYDFS”) finalized regulations for virtual currency firms in 2015, several regulated virtual currency licensees (“Licensees”) have sought permission to...more

BakerHostetler

Ethereum Fork Successful, Solutions Target Sneakers and Browsers, EU and NY Consider Regulations, Enforcement Actions Continue

BakerHostetler on

Ethereum Fork Implemented, Exchanges Expand Services, New Bitcoin Network Data - The Ethereum network’s Istanbul hard fork went forward late last week with the support of node operators, miners and cryptocurrency exchanges. ...more

Orrick - On the Chain

NYDFS to Virtual Currency Exchange: Don’t Let the Door Hit You on Your Way Out

Orrick - On the Chain on

The New York Department of Financial Services virtual currency license is back in the spotlight after NYDFS announced that it had rejected the application of Bittrex Inc., a virtual currency exchange, to conduct virtual...more

BakerHostetler

New Crypto Products in U.S. and Abroad, Enterprise Pilots Announced, Data Published on Cryptocurrency Scams and Money Laundering

BakerHostetler on

DFS Issues New BitLicenses, Corda Gains Integration Partners, New Stablecoin Launched - Late last week, the New York State Department of Financial Services (DFS) granted the DFS BitLicense to Robinhood Crypto LLC and Moon...more

Orrick - Finance 20/20

DFS Authorizes Coinbase Global, Inc. to Form Coinbase Custody Trust Company LLC

Orrick - Finance 20/20 on

On October 23, the Superintendent of the New York State Department of Financial Services (“DFS“) announced that the DFS has approved the application of Coinbase Custody Trust Company LLC, a wholly-owned subsidiary of Coinbase...more

Orrick, Herrington & Sutcliffe LLP

A Big Week on the Blockchain: Recent Enforcement and Regulatory Developments

Technology evolves and events unfold at a dizzying pace in the blockchain world, but even by those standards this past week was tough to keep up with. Every day seemed to bring a new first for the industry...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - February 2018 #3

Robinson & Cole LLP on

As of February 15, 2018, banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (DFS) are required to file their first certification of...more

Cole Schotz

New York Virtual Currency Business License: What To Know

Cole Schotz on

New York entrepreneurs in the virtual currency space must be careful to follow New York’s licensing requirements enacted under Financial Services Law Sections 102, 104, 201, 206, 301, 302, 309, and 408. Under the new...more

Perkins Coie

Blockchain Week in Review – May 2017 #4

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Ballard Spahr LLP

Coinbase the Latest to Obtain New York BitLicense

Ballard Spahr LLP on

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

Robinson+Cole Data Privacy + Security Insider

NYS approves Gemini Trust Company to trade digital currency ether

The New York State Department of Financial Services has approved the application of Gemini Trust Company to trade the digital currency ether on its platform, which is the first time the state has consented to the trading of a...more

Carlton Fields

State Regulation of Virtual Currency: A Recap

Carlton Fields on

This may be the year of the virtual currency. Virtual currencies have garnered much media, investor, and government attention. But, as venture capital funding continues to pour into the industry—more than $1 billion is...more

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