TagNew York Department of Financial Services

We’re Guarding Consumers Over Bitcoin: New York Regulator


Maria Vullo, the superintendent of New York Department of Financial Services, told Bloomberg’s David Westin in a TV interview that the department keeps on top of bitcoin. Westin posed the question in light of bitcoin’s temporary drop in value on Sunday, reportedly caused by regulatory pressure. Westin said problems with Coinbase and Gemini reportedly caused a 20% drop in bitcoin’s value...

Bitcoin Startups are Subject to “Periodic Exanimations” in New York


In its annual report, the New York Department of Financial Services (DFS), the state’s financial regulator, has revealed details of its oversight into the local bitcoin and digital currency industry. The financial regulator published its 2016 annual report last week, detailing a broad summary of regulatory moves, accomplishments, banking numbers and insurance statistics in the state of New York...

NY Regulator Approves Bitcoin Exchange Coinbase for Ethereum and Litecoin Trading

Crypto, bitcoin

Digital currency exchange Coinbase has received approval from New York’s financial regulator to offer trading of Ethereum and Litecoin to users in the state. The crypto exchange was also given the green light to offer ‘Shift Card’, its debit card service, in the state. Coinbase becomes the second cryptocurrency exchange to see its application to offer Ethereum trading approved by the New York...

How New York Regulatory Oversight Further Boosts Ethereum


When the Gemini Trust Company begins trading Ether Monday at 9:30 a.m., offering ETH/BTC and ETH/USD trading pairs on two order books, a new chapter begins with the world’s first licensed Ether exchange. Ether is the crypto-asset and token of the Ethereum network, and has emerged as the leading altcoin and is the fastest growing digital currency. Gemini founders Tyler and Cameron Winklevoss...

Former Bitcoin Regulator Turns Blockchain Advisor


Former New York regulator Benjamin Lawsky, who oversaw what many consider the most restrictive state bitcoin regulation known as BitLicense, now works as a counsel and media liaison for Axoni, a blockchain technology firm that uses blockchain in settling derivative transactions, according to Reuters. Lawsky said he intended to start a consulting business when he announced his departure from the...

Final New York Bitcoin Regulation Released: BitLicense


The New York Department of Financial Services has released the long-awaited BitLicense, 44-page document which amounts to a framework for “virtual currency” businesses to operate in the State of New York. The issue of regulation has long been a major issue in the digital currency world, as when things first kicked off, and people first started paying fiat money for bitcoins, there was...

Lawsky Defends New York BitLicense, Supports Both Consumer Protection and Bitcoin Innovation


Benjamin M. Lawsky, soon to be departing as top regulator at the New York Department of Financial Services (NYDFS) to start a consulting business, defended his bitcoin licensing rules that have drawn criticism from bitcoin advocates, according to a report in Wall Street Journal. Lawsky said his goal for the controversial BitLicense is to establish a balance between protecting consumers and...