New York State Financial News

02.12 / 04:51

Law CFTC New York State Crypto Companies New York proposes to charge crypto companies for regulating them

The New York State Department of Financial Services (DFS) has submitted a proposed change in state laws that would allow it to charge licensed crypto companies for regulating them.

20.11 / 22:37

regulation Congress Senate AML New York State US regulators US regulators continue to discuss crypto: Law Decoded, Nov. 13–20

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s Chair, Representative French Hill, declared that as “phone and the internet aren’t to be blamed for terror financing,” crypto shouldn’t be either. The witnesses, including representatives from Consensys and Chainalysis, spoke about the need for international and public-private collaboration in stopping the misuse of digital assets, the need for well-crafted legislation and the intricacies of blockchain sleuthing.

09.08 / 10:15

Adoption coinbase New York State 19% of New Yorkers own cryptocurrency: Coinbase report

A Coinbase report series highlighting crypto innovation at the state level in the United States has recently published its fourth edition, which features New York. The report highlighted various milestones the state reached regarding crypto adoption.

05.04 / 20:09

Mining regulation New York State settlement US Bitcoin reaches tentative settlement to reopen Niagara Falls mining facility

Crypto miner US Bitcoin Corp has come to a tentative agreement with the City of Niagara Falls that will allow it to reopen its mining operation in that city, according to a local news report. A state supreme court judge ordered its plant closed in early March. The settlement still requires the approval of the city council.

10.03 / 01:25

regulation New York State NY AG sues KuCoin for selling securities and commodities without registration

New York state Attorney General Letitia James announced that she has filed suit against cryptocurrency exchange KuCoin after she was able to buy and sell crypto on the exchange, which is not registered in New York. “This action is one of the first times a regulator is claiming in court that ETH, one of the largest cryptocurrencies available, is a security,” according to her statement.

23.02 / 07:33

Law regulation exchanges New York State Court CoinEx CoinEx crypto exchange sued by New York for failing to register with state

Cryptocurrency exchange CoinEx has been sued by the New York Attorney General, Letitia James, alleging the firm falsely represented itself as an exchange due to failing to register as a securities and commodities broker-dealer in the state.

22.02 / 03:55

regulation New York State NYDFS New York state announces another upgrade to its virtual currency monitoring capacity

The New York State Department of Financial Services (NYDFS) has announced enhancements to its ability to detect illegal activities with virtual currency among the entities its regulates. The new capacities are part of its efforts to keep pace with the industry and respond proactively to the virtual currency market, it said.

14.01 / 20:33

business Mining regulation New York State New York sued by environmental group after approval of crypto mining facility: Report

The New York Public Service Commission (PSC) was sued by environmental activists on Jan. 13 for approving the takeover of a cryptocurrency mining facility in the state.

05.12 / 06:53

business FTX New York State Alameda ex-CEO Caroline Ellison spotted in New York, Twitter users claim

A recent photo of what appears to be former Alameda Research CEO Caroline Ellison in a Manhattan coffee shop in New York has been making the rounds on Twitter.

29.11 / 13:33

New York State First US State where you can no longer mine crypto: Law Decoded, Nov. 21-28

The state of New York became the first one in the United States to impose a moratorium on proof-of-work (PoW) mining, albeit only for two years. Last week, New York governor Kathy Hochul signed the moratorium into a bill, prohibiting any new mining operations that aren’t based on 100% renewable energy. The renewal of licenses would also be frozen. In eight months, the anti-mining bill made its way from the first passing through the state Assembly to the governor’s pen.

23.11 / 12:21

regulation New York State Bitcoin New York governor signs PoW mining moratorium into law

New York governor Kathy Hochul signed the proof-of-work (PoW) mining moratorium into law on Nov. 22, making it the first state in America to ban any PoW crypto mining activity for two years.

16.11 / 13:23

regulation New York State National US national crypto laws should look like New York's, says state regulator

The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes.

14.06 / 09:11

Mining regulation New York State Bitcoin NYC Mayor Eric Adams speaks out against PoW mining ban legislation

New York City’s Mayor Eric Adams spoke out on Monday, June 13, against a bill just one step away from effectively banning Bitcoin mining in the state for the next two years.

10.06 / 05:51

Mining regulation New York State Bitcoin isolate Bitcoin miners say NY ban will be ineffective and 'isolate' the state

Two Bitcoin miners have told Cointelegraph that if the bill banning Proof-of-Work mining for two years in New York becomes law, it would end up triggering an exodus of mining companies from the state and do little to address the intended goals of the moratorium.

08.06 / 22:43

Stablecoin regulation New York State Backed guidance New York state releases guidance for issuing dollar-backed stablecoins

The New York State Department of Financial Services (DFS) on Wednesday released regulatory guidance for U.S. dollar-backed stablecoins issued by DFS-regulated entities. According to a DFS statement, it is the first regulator in the United States to impose such expectations on a stablecoin issuer.

07.06 / 13:01

New York State Terraform Labs Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea

The “long waves” of TerraUSD’s May 7 collapse, which we noted two newsletters ago, are extending even further. Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region.

03.06 / 15:03

Blockchain New York State Bitcoin New York AG warns against crypto investments amid state push to ban mining

As New York pursues efforts to ban proof-of-work (PoW) crypto mining, the attorney general reminded investors of the risks associated with investing in crypto.

02.05 / 22:41

Law Ban New York State Law Decoded: The difference between New York City and New York State, April 25-May 2

Last week, New York dominated crypto media headlines in very different ways. In New York State, the local Assembly voted in favor of the bill that would ban for two years any new mining operations that rely on proof-of-work (PoW) consensus mechanisms and use fossil fuel-generated energy.

28.04 / 07:07

Government New York State BItlicense New York Mayor urges state to abandon ‘stifling' BitLicense scheme

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

31.03 / 07:59

regulation New York State Texas Blockchain Adoption Washington state passes bill aiming to expand local blockchain adoption

Three years and one veto after it was first proposed, Washington state Governor Jay Inslee has signed a bill into law today that aims to expand the state’s adoption of blockchain technology across various financial and industrial sectors.

04.02 / 08:07

business Art New York State A metaphor? NYC 'solid gold cube' crypto promo turns out to be hollow

The “solid gold cube” crypto promo that surfaced in New York this week has turned out to be hollow on the inside, with onlookers online lampooning the stunt as an appropriate critique of the extravagant promises of crypto and blockchain tech.

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