United States of America: Department of Financial Services guidance for banks on virtual currency
Progress
Current status
adopted
15 Dec 2022 adopted
Scope
Implementers
United States of America
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central government
Implementation Level
subnational
Timeline of events
Adopted guidance for regulated banks establishing approval requirements for use of virtual currency
On 15 December 2022, the Department of Financial Services (DFS) of New York released guidance for regulated banks seeking to engage in activities with virtual currency. The guidance describes the application process to the DFS, including formal chec…
Event type
outline
Action type
adoption
Government branch
executive
Government body
central government