The DFS says the guidance should act as the baseline set of requirements that companies within New York State that have either issued, or would like to issue, dollar-backed stablecoins must follow.
Digital currency firms that hold a BitLicense are now required to pay an assessment fee; this new order was included in the state's FY2023 budget that came into law last April 9.
The agency said the license would now enable Bakkt to support customers in New York in buying and selling digital currencies and other digital assets.
The New York Department of Financial Services granted a charter to GMO-Z.com Trust Company Inc. to issue the GYEN stablecoin in the state.
All companies, including those involved in digital currency and Bitcoin mining, should begin to assess risks posed by climate change, and to take steps in mitigation, according to the NYDFS.
PayPal plans to expand its digital currency service offering to Venmo users as well as the 26 million merchants who use PayPal beginning in early 2021.
Techsprint is described as an initiative by regulators and industry stakeholders to work towards a common goal of digital regulatory reporting.
The New York financial regulator has criticized the lack of leadership at Twitter which made it easier for the hackers to infiltrate the platform.
The NYDFS is now granting conditional BitLicenses, partnership opportunities, and has updated their policies.
The New York Department of Financial Services has set out what it describes as the “first step” to reviewing the license, which has been in operation since 2015.
Bittrex customers hoped recent news might mean the exchange could reopen to New York, but that’s not the case.