Tagged: new york department of financial services

New York Department of Financial Services Approves Gemini & Paxos Stablecoins Pegged to US Dollar

The New York Department of Financial Services (DFS) says they are continuing to foster responsible growth in the Fintech sector following the authorization of stablecoins issued by both the Gemini Trust Company and Paxos Trust Company. The Gemini Dollar will be pegged to the US… Read More

State of New York Poised to Empower New York Department of Financial Services to Study Online Lending

There is legislation moving through the state of New York that shifts some responsibility regarding online lending to the New York Department of Financial Services (NYDFS). [S07294 and A8938] Originally, there was a bill that was signed into law on December 29, 2017, by Governor Andrew Cuomo, that… Read More

BitLicense Battle: Hearing Scheduled for Chino vs. NYDFS, Following $1 Billion Claim in Damages

Theo Chino will be back in court tomorrow (October 10) regarding his ongoing battle with the New York Department of Financial Services (NYDFS). In brief, Chino is battling the DFS creation of the “BitLicense Regulatory Framework” that delivered a bumpy process to license virtual currency business… Read More

New York Department of Financial Services Sues OCC Regarding National Fintech Charter

The New York Department of Financial Services has filed a lawsuit in US District Court in Manhattan against the Office of the Comptroller of the Currency (OCC). The action was taken to challenge the OCC’s initiative to issue national Fintech Charters. Reuters reported the NYDFS legal… Read More

ShapeShift Suspends Service to New York Customers in Protest of “BitLicense”

ShapeShift AG, an exchange service for digital assets, has suspended service to all residents of New York State, effective immediately, following the release of the “BitLicense” regulation by the New York Department of Financial Services. The company explained that New York’s new anti-competitive licensing scheme, which targets a… Read More

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