News & Analysis as of

New York Cryptocurrency Stablecoins

Morrison & Foerster LLP

NYDFS Settles with Stablecoin Issuer for Alleged Compliance Failures

Last week, New York State Department of Financial Services (NYDFS) left no doubt that it will continue to actively regulate cryptocurrency despite the pullback in law enforcement efforts by the federal government, including...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Will That Be Cash, Card, Bond, Or Crypto? Stablecoins Could Be Used To Post Bail Under Proposed New York Bill

New York’s intention to create a comprehensive regulatory scheme is clear with the May 10th proposal of Bill 7024 on the back of the CRPTO Act that was proposed by New York Attorney General Letitia James last week. New York’s...more

Bilzin Sumberg

New York’s CRPTO Act – the Most Comprehensive Set of Regulations yet on Cryptocurrency

Bilzin Sumberg on

On May 5, 2023, New York Attorney General Letitia James announced the Crypto Regulation, Protection, Transparency, and Oversight (“CRPTO”) Act, which aims “to protect customers and investors in digital assets from fraudulent...more

Moore & Van Allen PLLC

NYDFS Releases Stablecoin Guidance for NYDFS-regulated Institutions

Moore & Van Allen PLLC on

On June 8, 2022, the New York State Department of Financial Services (“NYDFS”) released industry guidance applicable to U.S. dollar-backed stablecoins issued by NYDFS-regulated entities (the “Guidance”)...more

Sheppard Mullin Richter & Hampton LLP

New York Releases Stablecoin Guidance

On June 8, the New York State Department of Financial Services (DFS) released its Guidance on the Issuance of U.S. Dollar-Backed Stablecoins meant to set foundational criteria for USD-backed stablecoins issued by...more

Sheppard Mullin Richter & Hampton LLP

April 2022 Crypto Enforcement Actions And Regulatory Guidance Roundup

In April, we continued to see a steady pace in the seriousness and frequency of crypto enforcement actions by state and federal law enforcement.  (See our March 2022 Crypto Enforcement Actions Roundup blog here where we...more

Cadwalader, Wickersham & Taft LLP

NYSBA Tax Section’s Crypto Recommendations

On April 18, 2022, the New York State Bar Association (“NYSBA”) Tax Section published its second report on cryptocurrency and digital assets (“the Report”). The Report recommends...more

Jones Day

New York Joins Other States in Enforcement Actions Against Unregistered Virtual Currency Lending Platforms

Jones Day on

On October 18, 2021, New York Attorney General Letitia James directed two virtual currency lending platforms to immediately cease their unregistered and allegedly unlawful activities in New York and sent letters to three...more

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