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New York regulator says banks must seek prior approval to enter crypto space

Adrienne Harris
Adrienne Harris at a crypto conference in May. Photo by Paras Griffin/Getty Images for Operation Hope

Martin Cloake

1 min read
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NYDFS Commissioner Adrianne A Harris says stance is ‘critical’ to protect consumers and boost sector resilience.

Banks in New York State must first seek approval from the regulator before entering the cryptocurrency sphere, effective Thursday 15 December.

The New York Department of Financial Services (DFS) issued a guidance document “to all New York banking organizations, as well as all branches and agencies of foreign banking organizations licensed

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