New York State Department of Financial Services

Use Cases for Blockchain Gain Momentum as User Experience Simplifies
Use Cases for Blockchain Gain Momentum as User Experience Simplifies
June 03, 2024  |  Cryptocurrency

End-users of technologies don’t want to think — they just want to use. And out-of-the-box usability is particularly essential when it comes to next generation...

READ MORE >
New York Regulator: Crypto Firms Must Provide ‘Timely’ Customer Service
New York Regulator: Crypto Firms Must Provide ‘Timely’ Customer Service
May 30, 2024  |  Cryptocurrency

New York’s financial regulator has introduced new customer service guidelines for cryptocurrency companies. The new guidance announced by the New York State Department of Financial Services (DFS)...

READ MORE >
New York DFS Announces Settlement With Gemini Trust
New York DFS Announces Settlement With Gemini Trust
February 28, 2024  |  Legal

The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its...

READ MORE >
Genesis Global Trading to Pay $8 Million Penalty, Surrender BitLicense
Genesis Global Trading to Pay $8 Million Penalty, Surrender BitLicense
January 12, 2024  |  Legal

The New York State Department of Financial Services (DFS) has announced that Genesis Global Trading will pay an $8 million penalty to the state and surrender its BitLicense.  These...

READ MORE >
Metropolitan Commercial Bank to Pay $15 Million Penalty for Fraud Oversight
Metropolitan Commercial Bank to Pay $15 Million Penalty for Fraud Oversight
October 19, 2023  |  Fraud Attack

Metropolitan Commercial Bank (MCB) has agreed to pay a penalty of $15 million following an investigation by the New York State Department of Financial Services...

READ MORE >
NYDFS Publishes Proposed Guidance for Virtual Currency Listing and Greenlisted Coins
NYDFS Publishes Proposed Guidance for Virtual Currency Listing and Greenlisted Coins
September 18, 2023  |  Cryptocurrency

The New York State Department of Financial Services (DFS) has published proposed guidance focusing on virtual coin listing and the general framework for greenlisted coins. This guidance builds...

READ MORE >
New York DFS Places Yonkers Postal Employees Credit Union Into Conservatorship
New York DFS Places Yonkers Postal Employees Credit Union Into Conservatorship
July 28, 2023  |  Credit Unions

The Yonkers Postal Employees Credit Union (Yonkers CU) has been placed into conservatorship by the New York State Department of Financial Services (DFS), with the...

READ MORE >
US Lawmakers Debate Dueling Stablecoin Bill Drafts
US Lawmakers Debate Dueling Stablecoin Bill Drafts
May 18, 2023  |  Regulation

U.S. lawmakers faced off Thursday (May 18) over two proposed stablecoin bills. Both bills under consideration would allow both banks and non-banks to issue stablecoins. It was...

READ MORE >
Regulators Blame Signature for Own Failure and Themselves for SVB’s
Regulators Blame Signature for Own Failure and Themselves for SVB’s
April 28, 2023  |  Banking

In a scathing self-assessment, the Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, as regulator reports on Signature...

READ MORE >