United States of America: NYDFS Guidance on Custodial Structures for Customer Protection in the Event of Insolvency for providers of virtual currency

Progress

Current status
adopted
23 Jan 2023 adopted

Scope

Implementers
United States of America
Policy Area
Other operating condition
Policy Instrument
Consumer protection regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national

Timeline of events

23 Jan 2023
adopted

Issued NYDFS Guidance on Custodial Structures for Customer Protection in the Event of Insolvency for providers of virtual currency

On 23 January 2023, the New York Department of Financial Services (NYDFS) issued a Guidance on Custodial Structures for Customer Protection in the Event of Insolvency for providers of virtual currency. The Guidance outlines the consumer protection r…

Source
Event type outline
Action type adoption
Government branch executive
Government body other regulatory body