New NYDFS Division to Oversee Licensing for Cryptocurrency Startups
The Research and Innovation Division will include an in-house team that supervises cryptocurrencies.
NYDFS Superintendent Linda Lacewell is a regulator prepared to work with the grain of crypto rather than against it.
NYDFS Superintendent Linda Lacewell said she decided to review the regulator's landmark virtual currency license in light of its impending 5-year anniversary.
NYDFS held a two-week event with crypto industry participants to evaluate ways of upgrading its data collection tools and practices.
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.