New York State Department of Financial Services - News, Articles & Research

Company announcement/ai

NYDFS adopts guidance on AI use by insurance firms

Today, Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris adopted guidance to protect consumers from unfair or unlawful discrimination by insurers using artificial intelligence.

12 July 2024

Company announcement/crypto

NYDFS issues virtual currency customer service guidance

New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today issued guidance requiring DFS-regulated virtual currency entities to maintain and implement effective policies and procedures to promptly address customer service requests and complaints.

30 May 2024

News/regulation

EToro scores New York BitLicense

Social investing platform eToro has secured money transmitter and virtual currency licenses from the New York State Department of Financial Services.

22 February 2023

Company announcement/crime

NYDFS boosts crypto fraud detection capabilities

New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today announced the Department has enhanced its ability to detect fraud and other illegal activity among New York State-regulated entities engaged in virtual currency activity through new insider trading and market manipulation risk monitoring tools.

21 February 2023

News/crypto

Paxos ordered to stop minting Binance stablecoin

Blockchain infrastructure provider Paxos will stop issuing new Binance USD stablecoins on the orders of the New York Department of Financial Services (NYDFS). The firm has also revealed that the token is facing SEC scrutiny.

14 February 2023

News/crypto

New York regulator hits Coinbase with $50m fine

Coinbase will pay a $50 million penalty and invest another $50 million in its compliance programme to settle a New York State regulatory investigation into its anti-money laundering practices.

04 January 2023

News/crypto

New York regulator tells banks to get prior approval for crypto activities

New York State-regulated banks will need to get prior approval from regulators ahead of any virtual currency-related activities.

15 December 2022

Research

The Future of Digital Banking in North America 2023

21 October 2022 1154 downloads