Five years after erecting a wall around its market few crypto startups could scale – a wall known as the BitLicense – New York is handing down a ladder.
The New York Department of Financial Services (NYDFS) is revisiting how it licenses crypto startups.
NYDFS Superintendent Linda Lacewell said she decided to review the regulator's landmark virtual currency license in light of its impending 5-year anniversary.
The Research and Innovation Division will include an in-house team that supervises cryptocurrencies.
Under Lacewell's leadership the regulator granted New York's 19th BitLicense.