New York State Gov Andrew Cuomo Wants BitLicense Creator NYDFS to Have More Power

2020-1-9 21:19

New York’s governor Andrew Cuomo wants the Department of Financial Services (NYDFS) to have more power when it comes to regulating licensed entities, cryptocurrency startups included.

Presenting his “state of the state” plan for 2020 on Wednesday, he published 321 pages of proposals that include a new perspective on existing exemptions some consumer financial services and products have.

NYDFS Can Execute Action Towards Unlicensed Entities

NYDFS, which is the creator of BitLicense has the power already, but there are entities declaring they’re not bound to its regulations because they’re not selling their goods straight to the purchasers. Banking and insurance laws are giving NYFDS the right to collect valuation costs, yet companies that operate within the Financial Services Law aren’t precisely bound to pay out. This is what the NYDFS document reads as far as this issue goes:

“Entities licensed under the FSL (e.g. virtual currency entities) are not required to pay such assessments, despite being subject to similar examination and oversight requirements.”

According to the same document, Cuomo is looking to revise the law that closes all these loopholes.

NYDFS Regulating Cryptocurrency Startups Since 2014

NYDFS is regulating new crypto enterprises with its digital currency license ever since 2014, through BitLicense. Last October, NYDFS superintendent Linda Lacewell said the agency is making reviews in the sector and cited the crypto industry’s evolution since BitLicense was proposed for the first time. Including a coin listings model framework for exchanges and a listing cryptocurrencies approval process, the changes proposed by NYDFS are open to public comments until January 27.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.002809 (-100%)

new state power services financial andrew wants

Источник: bitcoinexchangeguide.com

new state → Результатов: 126


Фото:

Crypto miners get updated power rate structure approved by NY state officials.

New York state regulators have approved a new electricity rate scheme for cryptocurrency miners that will allow them to negotiate contracts, Bloomberg reported July 12. According to Bloomberg, several months ago the state of New York gave permission to 36 municipal power authorities to charge crypto miners more than other consumers. The Massena municipal utility

2018-7-13 06:31


Фото:

In Upstate New York, Crypto Miners have approved New Power Rates

A municipal utility provider in New York got the green light from state regulators to create a new set of electricity rates for cryptocurrency miners. While primarily an administrative move, it’s a potentially significant development for cryptocurrency miners hoping to tap the hydroelectrical resources located in New York. However, given the abundance of low-cost electricity

2018-7-13 03:13


Tkeycoin DAO ICO

TCD Corporation (formerly Holding BR) is an IT company engaged in the development of modern solutions for the economic and public spheres of activity. Since October 2017, TCD Corporation has been designing and developing a new cryptographic decentralized platform - "Tkeycoin DAO" for payment systems, banking and financial sector.

2018-7-12 22:56


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Iranian Government Gags Crypto Exchanges To Fight 127% Inflation And New US Sanctions

The government in Iran has gagged bitcoin exchanges across the country, claim bitcoin users and alternate coin community of the Islamic state. The government has been censoring its citizens from engaging in crypto-economy, to apparently counter the fresh round of economic sanctions that the US government is looking to impose later in August this year.

2018-7-5 21:31


Florida Could Now Have a Cryptocurrency Chief for Regulatory Oversight

Chief Financial Officer (CFO) of Florida, Jimmy Patronis, announced the creation of a new position in the state called cryptocurrency chief on Tuesday, June 26. The new designee will help develop a regulatory framework in the state for cryptocurrencies and look into the current insurance and securities laws and their application on digital currencies and Initial […] Florida Could Now Have a Cryptocurrency Chief for Regulatory Oversight was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-6-27 22:58


Фото:

Sheila Bair, former chairperson of the Federal Deposit Insurance Corporation, is open to new rules for digital currency

Sheila Bair, a former chairperson of the Federal Deposit Insurance Corporation (FDIC), believes the U.S. should create a wholly new regulatory framework for cryptocurrencies. She went on to explain: “We are trying to jam crypto trading into state money transmission laws, it just doesn’t work. I think at some point, we will need a federal

2018-6-22 02:29


Фото:

State of New York issues 7th BitLicense to Jack Dorsey’s Square

Financial services provider Square has got the NYSDFS 7th-ever BitLicense allowing New Yorkers to trade cryptocurrency on the rapidly growing Cash app. Square, a digital payments company, has been granted BitLicense from the New York Department of Financial Services (NYDF), which means formal approval of Square’s application for a virtual currency license. It was issued on

2018-6-19 14:32


Фото:

eToro Domination Continues With Potential London Trading Desk

eToro is a cryptocurrency platform that seems to be expanding at an alarming rate. eToro news is rife and the company seems to be constantly hitting the headlines for all the right reasons. Next up, recent reports state that eToro are looking to open a physical cryptocurrency trading desk in London, in a move that would surely cement eToro’s reputation in the capital and would give a whole host of new customers, access to the growing eToro platform.

2018-6-18 13:00


Фото:

The Bitcoin Wallet provider Xapo receives the 6th-bit ligence from New York State

Cryptocurrency wallet and vault Xapo is the latest recipient of New York’s ‘BitLicense’, arguably the strictest state law governing the crypto sector, from the state’s financial regulator. Notably, this is the sixth-ever BitLicense the state has granted, with the last one being obtained by brokerage firm Genesis Global Trading in May 2018. With the obtained

2018-6-18 12:40


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

South Korean Exchange Suspends Withdrawals to External Wallets, Govt. Reaches Out to Apple and Google to Block P2E Apps

One of the four regulated cryptocurrency exchanges in South Korea, Coinone, has announced that it will no longer allow withdrawals to non-verified external wallets starting Jan. 24, 2022. If Coinone users want to withdraw their crypto assets to another digital wallet, they would have to register their wallet address with the exchange, “in accordance with […] The post South Korean Exchange Suspends Withdrawals to External Wallets, Govt.

Bitcoiner Senator, Cynthia Lummis, Is Planning to Bring In A New Crypto Bill Next Year

Wyoming Republican Senator Cynthia Lummis plans to introduce a comprehensive bill next year covering tax taxation of digital assets and their categorization to consumer protections. Lummis, who is also a Bitcoiner and one of the most vocal crypto advocates, will also be pitching Congress on creating a crypto regulatory body under the joint jurisdiction of […] The post Bitcoiner Senator, Cynthia Lummis, Is Planning to Bring In A New Crypto Bill Next Year first appeared on BitcoinExchangeGuide.

Bank of England to Coordinate with International Regulators for Stricter Crypto Rules

The Bank of England to step up its talks with the international counterparts on a regulatory regime for cryptocurrency next year. In an interview with The Times, Sarah Breeden, executive director for financial strategy and risk at the central bank, said that as banks begin to offer crypto-assets trading and custody services to clients, global […] The post Bank of England to Coordinate with International Regulators for Stricter Crypto Rules first appeared on BitcoinExchangeGuide.

Paraguayan Senate Passes Bill to Regulate Crypto Trading and Mining

The Senate of Paraguay has passed a bill that will regulate the trading and mining of cryptocurrencies in the country. Paraguayan Senator Fernando Silva Facetti, one of the three authors of the bill, confirmed this on Twitter, saying Paraguay’s Chamber of Deputies will discuss the bill next year.