New York Department of Financial Services

PayPal Digital secures NYDFS trust charter

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4 June, 2024

PayPal Digital secures NYDFS trust charter

As a cautious approach, U.S. authorities mandate PayPal to prove USD deposits or similar cash equivalents back its PYUSD despite...

Genesis to forfeit BitLicense, pay $8M fine in NYDFS settlement

Business

James Field

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16 January, 2024

Genesis to forfeit BitLicense, pay $8M fine in NYDFS settlement

With the forfeiture of BitLicense, which it held since 2018, over violation of cybersecurity regulations, Genesis Global Trading will no...

Business

Steven Stradbrooke

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10 August, 2023

PayPal, Paxos launch new stablecoin just as Fed Reserve tightens oversight

PYUSD is being pitched as good for sending person-to-person payments, transferring to external wallets or funding purchases and users can...

The New York state of mind is ‘more digital asset oversight’

Business

Steven Stradbrooke

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26 May, 2023

The New York state of mind is ‘more digital asset oversight’

The hearing by New York regulators examined the “transparency and security of the cryptocurrency industry and potential improvements as they...

NYDFS to charge digital asset firms for supervision

Business

Steve Kaaru

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19 April, 2023

NYDFS to charge digital asset firms for supervision

First proposed in December, the new regulation was adopted this week and allows the New York Department of Financial Services...

Nasdaq to launch digital asset custody service by Q2 2023

Business

Steve Kaaru

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30 March, 2023

Nasdaq to launch digital asset custody service by Q2 2023

The head of Nasdaq Digital Assets revealed the stock exchange wants to fill the gap left by 2022’s bankruptcies, starting...

Signature Bank in money laundering probe, auction buyer must ditch crypto ops

Business

Steven Stradbrooke

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16 March, 2023

Signature Bank in money laundering probe, auction buyer must ditch crypto ops

Signature Bank was under federal investigation for suspected money laundering by its crypto clients before the New York financial institution...

SEC steps in at the last minute to block Binance.US Voyager Digital acquisition

Business

Jon Southurst

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10 March, 2023

SEC steps in at the last minute to block Binance.US Voyager Digital acquisition

The Securities and Exchange Commission and the New York Department of Financial Services had opposed the deal, the latter alleging...

Binance denies reports that other B-tokens are insufficiently backed

Business

Steven Stradbrooke

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2 March, 2023

Binance denies reports that other B-tokens are insufficiently backed

Voyager Digital announced that most of its creditors had voted in favor of its restructuring plan that will see Binance.US...

Business

Gavin Lucas

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23 February, 2023

Paxos stops minting BUSD—is Binance stablecoin finished?

Paxos CEO Charles Cascarilla said that the decision was not linked to the NYDFS order, clarifying that "The market has...

Paxos ordered to cut ties with Binance, will stop minting BUSD stablecoin

Business

Steven Stradbrooke

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14 February, 2023

Paxos ordered to cut ties with Binance, will stop minting BUSD stablecoin

Citing "unresolved issues" tied to its relationship with Binance, the NYDFS ordered Paxos to halt the minting of BUSD while...

Robinhood Crypto fined $30 million by regulators

Business

Patrick Thompson

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3 August, 2022

Robinhood Crypto fined $30 million by regulators

NYDFS Superintendent Adrienne Harris said Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a...

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