The regulatory agency asked crypto firms to adopt methods to ensure greater risk assessment for potentially problematic transactions.
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The regulatory agency asked crypto firms to adopt methods to ensure greater risk assessment for potentially problematic transactions.
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The fees will bring virtual currency companies on par with those paid by banking and insurance institutions as a way for the state to recoup operating expense costs and “best support” the industry.
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Adrienne Harris said she aims “to ensure we have a robust and fair financial system, and an equitable economy” in her role at the NYDFS.
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Goldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state.
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Emerging analytics technology is the name of the game for the next stage in crypto regulation.
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The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses for companies engaged in crypto activities. First Regulated Yen […]
The post New York Approves Its First Publicly Available Japanese Yen Stablecoin appeared first on Bitcoin News.
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Japanese firm GMO will now be able to offer Yen and dollar-pegged stablecoins to the public in New York.
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The stablecoin issuer and PayPal partner wants to increase its range and scope of services by becoming the first crypto services provider to be regulated at both state and federal levels.
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These week’s news highlighted how governments test new regimes for cryptocurrency, which can be slow but are certainly some kind of progress.
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For now, PayPal’s crypto payments are more about satisfying regulators than providing users with crypto capabilities.
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