According to the New York regulator, Genesis had compliance failures that violated crypto and cybersecurity regulations, leaving the company “vulnerable to illicit activity.”
NYDFS News
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The Office of the Comptroller revealed its concerns over the management of BitLicense applicants by the New York Department of Financial Services.
2751The proposals included stricter standards on risk assessments for crypto firms as well as a framework for designating token projects to the NYDFS' greenlist
6278Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management.
3946Since 2015, crypto firms operating in the state of New York have largely been required to apply for a BitLicense to offer services.
7536The crypto advocacy group wants clarity on recent regulatory action against digital asset-friendly banks.
4203The superintendent of the New York Department of Financial Services reportedly dismissed claims the U.S. government was working to implement “Operation Choke Point 2.0.”
5817The New York State Department of Financial Services did not describe its new capacities, but said they will contribute to the detection of a variety of illegal activities.
3762The company’s complaint to the New York regulator reportedly came before NYDFS ordered Paxos to “cease minting” its Binance USD stablecoin.
11755Many Gemini Earn users reportedly claimed assets in their accounts had been protected by the Federal Deposit Insurance Corporation.
3865“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship,” said the NYDFS.
2733The state, a notoriously demanding regulator of the industry, has released detailed guidelines for banks’ crypto activities — and some licensed banks may have to play catchup.
3633“As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance,” said superintendent Adrienne Harris.
2468Adrienne Harris said she aims "to ensure we have a robust and fair financial system, and an equitable economy" in her role at the NYDFS.
3448Goldman 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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