New York Financial News

The Federal Reserve is hiking interest rates in an effort to defuse an explosive year of price inflation. But global forces could neutralize the effects of that tightening of monetary policy, and keep inflation high.

Says New York State Department of Financial Services Superintendent Adrienne Harris: "Blockchain analytics tools provide companies with an efficient, data-driven way to conduct customer due diligence, transaction monitoring, and sanctions screening, among other things, which are all critical elements of our virtual currency regulation. "We expect regulated entities to utilize best practices to uphold the safety and soundness of the virtual currency market and to protect consumers." Issuing new guidance, the watchdog says New York State-regulated virtual currency companies should establish control measures that may leverage blockchain analytics and that they must have clearly documented policies, processes, and procedures with regard to how these tools are integrated into their control framework.

On April 26, the State of New York put itself at the forefront of the regulatory struggle with crypto, as its Assembly voted for a two-year moratorium on crypto mining operations that use energy generated by fossil-fuel power plants. Depending on how one looks at it, this development could either signal a new alarming legislative trend or a trigger that would accelerate the digital asset industry’s movement toward a more sustainable path. 

The Federal Reserve waited too long to take on inflation and its response to it will almost certainly trigger a recession, according to three former central bank officials.

In a letter published on Thursday, the New York State Department of Financial Services, or NYDFS, recommended that all virtual currency companies operating under New York banking law adopt blockchain analytics to trace transactions. In supporting the decision, the regulatory agency wrote:

As told via a Twitter post on Tuesday, instant messaging app Telegram has rolled out crypto payments via Ton Token.

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New York City Mayor Eric Adams has hit out at his states’ BitLicensing regime, claiming that it stifles innovation and economic growth.

London attracted foreign investment in more financial and professional services projects than any of its global peers last year, according to a new report from the City of London Corporation.

WASHINGTON—A Securities and Exchange Commission proposal intended to make Treasury markets more resilient has sparked a backlash from cryptocurrency companies, which say it could increase legal risks for so-called decentralized finance, or DeFi, platforms.

The New York State Assembly passed a bill late on Tuesday April 26 that would place a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon based fuel to power their operations.

London attracted foreign investment in more financial and professional services projects than any of its global peers last year, according to a new report from the City of London Corporation.

KKR wrapped up its largest-ever buyout fund with $19bn in investor commitments in a fundraising effort that broke an in-house record that has stood for more than 15 years.

Fidelity Investments, the United States’ biggest provider of 401(k) pension plans, will let participants choose to keep money in bitcoin (BTC), but only if their employers let them.

London attracted foreign investment in more financial and professional services projects than any of its global peers last year, according to a new report from the City of London Corporation.

The New York state legislature might ban Proof-of-Work (PoW) crypto mining in the state for at least two years, citing environmental concerns. 

New York State Senator Kevin Thomas introduced a new bill amendment request to establish certain offenses related to rug pulls and other frauds related to virtual token distribution, misuse of private keys and hidden interests in crypto projects.

Theoretical computer scientist and Columbia University professor Tim Roughgarden has been appointed the head of Andreessen Horowitz's (a16z) new crypto research unit.

A study claiming that psychopaths and others with ‘Dark Tetrad’ personality traits are drawn to crypto has been criticized as "meaningless" for showing very weak correlativity by a psychology expert from The University of Otago.

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The Chicago Board Options Exchange (CBOE Exchange, Inc. (CBOE)) has filed for a trademark application for CBOE DIGITAL for a non-fungible token (NFT) trademark, attorney Michael Kondoudis announced through a tweet.