NYDFS
NYDFS Superintendent Adrienne Harris Shifting Regulator 'Away From Enforcement,' Legal Expert Says
Reed Smith LLP counsel Hadas Jacobi, who also previously worked for the New York State Department of Financial Services (NYDFS) Office of the General Counsel and Enforcement, discusses how Superintendent Adrienne Harris has shifted the regulator "away from enforcement and towards expanding the department's crypto group," with the addition of roughly 60 staff members. "It's a huge deal," Jacobi added.
New York's Crypto Stance Shows 'There's a Grown-Up in the Room' Regarding Regulations: Legal Expert
New York's financial regulator wants tougher restrictions on crypto coin listings for companies regulated in the state, especially if they target retail clients. Hadas Jacobi, Reed Smith LLP counsel, who also previously worked for the New York State Department of Financial Services (NYDFS) Office of the General Counsel and Enforcement, discusses her reaction to the proposed updated guidelines issued by the regulator Monday.
Closure of Crypto-Friendly Banks Is 'Not a Policy Issue': Former NYDFS Superintendent
Former congressman Barney Frank, who is also one of Signature Bank's board members, thinks Signature's shutdown could be politically motivated against the crypto industry. Former New York State Department of Financial Services Superintendent Maria Vullo reacts to that statement, saying, "I don't think you close down a bank because of a policy issue, you do because ... its financial picture is unsafe and unsound."
Former NYDFS Superintendent Reacts to Signature Bank Shutdown
Reuters reports that the Federal Deposit Insurance Corporation (FDIC) wants bids submitted by today for banks interested in buying the assets of Signature Bank. Former New York State Department of Financial Services (NYDFS) Superintendent Maria Vullo discusses Signature's shutdown and the potential implications for the U.S. crypto regulatory landscape.
NYDFS Says Signature Bank Closure Due to 'Crisis of Confidence' in Leadership
Signature Bank was not shut down for crypto-related reasons, the New York Department of Financial Services said Tuesday, rejecting claims the regulator took over the bank to send an "anti-crypto message." Meanwhile, Bloomberg reports that the U.S. Department of Justice in Washington, D.C., and New York were investigating possible lax monitoring at Signature Bank to prevent money laundering. "The Hash" panel discusses the latest developments at Signature and explain why this is a continuing story to watch.
Paxos to Stop Minting Stablecoin BUSD: What Happens Next?
Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just after a report of the threat of legal action from the U.S. Securities and Exchange Commission (SEC). Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor Jesse Austin Campbell weighs in. "The lesson showing people here is that over the last few years, the greatest mistake is to be an on shore regulated company in the crypto space," Campbell said.
Paxos To Stop Minting BUSD After Regulatory Action; IMF Issues Warning Over El Salvador’s Bitcoin Experiment
Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just after a report of the threat of legal action from the U.S. Securities and Exchange Commission (SEC). The International Monetary Fund (IMF) has warned that bitcoin's risks in El Salvador should be addressed. Shares of Hut 8 Mining continue to slide after agreeing to merge with U.S. Bitcoin Corp last week.
