NYDFS Superintendent Adrienne Harris said Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance.
PayPal has been operating with a conditional BitLicense from the NYDFS since October 2020 but has now become fully licensed in a move the company says is very big for Web3.
The guidance is in response to a March directive from Governor Kathy Hochul, where she implored the DFS to strengthen its sanctions against Russia using measures like blockchain analytics tools.
The New York financial watchdog was assigned the responsibility of developing a new assessment mechanism for VASPs in the state’s new budget for 2023.
Adrienne Harris is taking over one of the toughest agencies, but having worked with digital asset companies, she’s expected to be firm but friendly to the industry.
Kathy Hochul, the new governor of New York, has nominated former Obama official Adrienne Harris to head up the New York Department of Financial Services.
The New York Department of Financial Services (NYDFS) has issued a cybercrime warning after several attempted security breaches.
The New York Department of Financial Services has set up a specialized crypto department to keep businesses in line.
Coinbase has been awarded a license to operate as an independent qualified custodian for cryptocurrencies under New York State Banking Law.