New York Department of Financial Services – DIGIT INFO

Coin Cafe to repay $4.3M in fees that ‘wiped out’ investors’ Bitcoin accounts

DIGIT — Fri, 19 May 2023 03:30:04 +0000

The platform was charging investors ‘exorbitant and undisclosed fees’ with one user being charged recurring fees of $51,000 over a span of 13 months, according to the statement.

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New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’

DIGIT — Thu, 06 Apr 2023 23:30:21 +0000

Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured deposits” and insufficient liquidity were some of the reasons why it was closed. Signature Bank’s Liquidity […]

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NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

DIGIT — Mon, 13 Mar 2023 00:05:22 +0000

On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be […]

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Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD

DIGIT — Fri, 17 Feb 2023 02:22:59 +0000

Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”

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BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert

DIGIT — Tue, 14 Feb 2023 02:45:02 +0000

Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory Scrutiny The stablecoin BUSD […]

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Stablecoin issuer Paxos reportedly probed by New York regulators

DIGIT — Fri, 10 Feb 2023 05:42:03 +0000

While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.

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‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss

DIGIT — Wed, 03 Aug 2022 01:15:51 +0000

The online retail broker blamed the economy for a decline in user numbers and net revenue that fell 44% year-on-year, although revenue from crypto rose moderately this quarter.

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Financial Services Provider Square Acquires New York Bitlicense

DIGIT — Mon, 18 Jun 2018 20:03:55 +0000

The company Square announced on Monday the firm has been granted the Bitlicense from the New York Department of Financial Services (DFS). The firm and its ‘Cash App’ are now legally allowed to operate and utilize cryptocurrency solutions in the state of New York. Also Read: Cryptocurrency Brokerage Service Genesis Global Granted Bitlicense Square Has Obtained […]

The post Financial Services Provider Square Acquires New York Bitlicense appeared first on Bitcoin News.

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