New York financial regulator issues cryptocurrency guidance for banks

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:The New York State Department of Financial Services (NYDFS) on Thursday issued digital asset guidance to state-regulated banks laying out what information financial institutions must submit before getting approval to engage in virtual currency-related activities. The guidance, one of the clearest paths forwa

:The New York State Department of Financial Services on Thursday issued digital asset guidance to state-regulated banks laying out what information financial institutions must submit before getting approval to engage in virtual currency-related activities.

In a statement, NYDFS Superintendent Adrienne Harris said the new policies are"critical to ensuring that consumers’ hard-earned money is protected" and that New York-regulated banks remain competitive.

 

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