The New York State Department of Financial Services (NYSDFS) has appointed former Promontory executive Peter Marton as deputy superintendent of...
The comment period for the Office of the Comptroller of the Currency's fintech charter proposal closed on January 17 and the New York Department of Financial Services (NY DFS) was among the commenters; the NY DFS opposes the federal fintech charter; says state regulations have evolved to provide the necessary oversight; also notes that the regulations will create confusion, harm small business innovation, create monopolized institutions, increase competitive risks of non-bank entities and facilitate evasion of consumer protection. Source
The New York Department of Financial Services is allowing life insurers to use nontraditional data in order to determine premium...
New guidance from the New York Department of Financial Services should shake up how stablecoin issuers do attestation and other reporting, says our columnist.
The bill is sponsored by New York State Senator Elaine Phillips; it would allow the Department of Financial Services to...
The New York Business Journal reports on CB Insights' venture capital data by state noting that fintech investment in New York companies decreased by 35% from the previous quarter to $253 million while deals increased to 24 from 19; three New York City companies, Namely, Trumid and Payfone, were among the top 10 US fintech deals; Namely was second in top fundraisings with $50 million. Source
SBI Holdings, a Japanese securities and banking giant that launched a crypto-asset fund for retail investors last year, has been actively investing in the infrastructure that will allow it to roll out more crypto products.
New York State Senators held a roundtable last week for NY based blockchain companies to give their opinions on the BitLicense; the BitLicense is seen as being too restrictive, especially for startups, and the listening session was meant to get industry points of view before making reforms; one of the biggest complaints is the current regulations are too one size fits all; it is a good sign to see legislators engage the community but NY’s Department of Financial Services was not invited and so there is skepticism that any change will actually occur. Source.
The incoming mayor of New York City thinks that schools should add cryptocurrency and blockchain technology to the curriculum, as Eric Adams ups the ante in his plan to transform the city into a crypto hotspot.
Adrienne Harris said the New York State Department of Financial Services will concentrate more on issues that have a big impact on people’s pocketbooks. The agency announced a move Monday that will likely save money for consumers who rely on check cashers.