The financial industry has not made up its mind when it comes to cryptocurrency regulation. However, one of the strictest regulators in the United States, The New York Department of Financial Services (NYDFS) has approved the launch of two stablecoins, both pegged to the US Dollar. The investors behind the project are the Winklevoss brothers,…
Read moreBarclays PLC (LON:BARC) has just announced that it has reached a settlement with the New York State Department of Financial Services (DFS) in respect of the regulator's investigation into the bank's electronic trading of foreign exchange (FX) and FX electronic trading systems. The probe concerns a five-year period – from 2009 to 2014. The New…
Read moreShortly after the National Futures Association (NFA) announced that it will tighten the requirements regarding cyber security for all of its members, including Forex brokers, another US regulator is considering new cyber security requirements. The New York State Department of Financial Services (NYDFS) has sent an official letter to Financial and Banking Information Infrastructure Committee (FBIIC)…
Read moreSeveral months have passed since New York’s Department of Financial Services first announced it was examining the activities of investment giant Deutsche Bank AG (FRA:DBK) over suspected money laundering. According to a report by the Financial Times, the US Department of Justice (DoJ) and New York’s Department of Financial Services (NYDFS) are widening the scope…
Read moreAs a chartered limited purpose trust company with fiduciary powers under the Banking Law, Gemini can begin operating immediately and is subject to ongoing supervision by the NYDFS.
Read moreAfter finalizing the Bitlicense regulation in June this year, the New York State Department of Financial Services on Tuesday officially issued the first approval to a Bitlicense application.
Read moreThe New York Department of Financial Services (NYDFS) posted a revised BitLicense proposal on February 25, 2015. The revised proposal reflected many steps in the right direction and addressed numerous concerns voiced by Xapo and the bitcoin industry as a whole. Xapo is the company behind the highly anticipated global bitcoin wallet debit card which…
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