CandleFocus

New York continues to lead on state crypto regulations 

Author: Content Editor
The head of the New York Department of Financial Services, Adrienne Harris, has advised crypto companies to engage with regulators proactively and not wait until enforcement actions are initiated. She emphasized the importance of having conversations with regulators before filing applications. New York has been a leader in state-level regulation with its "BitLicense" program, which requires digital asset businesses to register with the DFS. Although initially criticized by the industry, Harris stated that the regulatory framework was designed to protect consumers, markets, and ensure responsible growth in the industry. It is unclear whether President-elect Donald Trump's administration will grant more authority to states to oversee the crypto industry.

Related News