NYDFS Supports Federal Legislation for BitLicense in New York
Thursday, 26 September 2024, 04:20
NYDFS Advocates for Federal Oversight of BitLicense
NYDFS Superintendent Adrienne Harris recently stated that the NYDFS is 'more eager than anyone' for federal legislation regarding the BitLicense framework in New York. This legislative push aims to provide clarity and regulation for digital assets while preserving the vital role of state regulators in the oversight process.
Implications of NYDFS's Call for Action
- The BitLicense has been a pivotal element for cryptocurrency businesses operating in New York.
- Harris underlines the importance of a cohesive regulatory environment that integrates both state and federal oversight.
- Federal legislation could streamline operations for many crypto firms navigating the complex legal landscape.
As discussions evolve, the NYDFS aims to work closely with federal entities to create a balanced framework that addresses the needs of the digital economy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.