United States:
Summer Of Crypto – NYDFS Announces New Initiatives And Regulatory Proposals For Conditional BitLicense And Virtual Currency Regulation
09 July 2020
Morrison & Foerster LLP
To print this article, all you need is to be registered or login on Mondaq.com.
On June 24, 2020, the New York State Department of Financial
Services ("NYDFS") announced a series of initiatives
designed to provide further guidance and resources for businesses
operating in, and potential new entrants into, the virtual currency
industry. The initiatives represent the first major update to
NYDFS' "BitLicense" – the regulatory regime set
up in 2015 that governs virtual currency activity involving New
York residents and companies, including a proposed conditional
licensing framework intended to authorize entities without a
BitLicense to engage in virtual currency business in New York under
a conditional license.
Read our
client alert.
A special thanks to Amani Carter for her contributions
to this client alert.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Technology from United States
Risks And Best Practices For GenAI In The Workplace
Nyemaster Goode
Generative artificial intelligence, or GenAI, is moving into all facets of life—including the workplace. Employees are using GenAI now. To mitigate GenAI legal risks, employers need to set up...
AI Legal & Regulatory News—Week Of 3/25/24
Steptoe LLP
Below is this week's tracker of the latest legal and regulatory developments in the United States and in the EU. Sign up here to ensure you do not miss an update.
The Impacts Of Chat GPT On Corporate Litigation
Butler Snow LLP
Artificial intelligence ("AI") is one of the most rapidly developing components of the technology sector. This is especially true within the last five years, as evidenced by the increased...