{"id":510724,"date":"2022-11-16T13:09:12","date_gmt":"2022-11-16T10:09:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-national-crypto-laws-should-look-like-new-yorks-says-state-regulator\/"},"modified":"2022-11-16T13:09:12","modified_gmt":"2022-11-16T10:09:12","slug":"us-national-crypto-laws-should-look-like-new-yorks-says-state-regulator","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-national-crypto-laws-should-look-like-new-yorks-says-state-regulator\/","title":{"rendered":"# US national crypto laws should look like New York&#8217;s, says state regulator"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dfe31a22aa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dfe31a22aa\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-national-crypto-laws-should-look-like-new-yorks-says-state-regulator\/#%E2%80%9D_US_national_crypto_laws_should_look_like_New_Yorks_says_state_regulator_%E2%80%9C\" >&#8221; US national crypto laws should look like New York&#8217;s, says state regulator &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_national_crypto_laws_should_look_like_New_Yorks_says_state_regulator_%E2%80%9C\"><\/span>&#8221; US national crypto laws should look like New York&#8217;s, says state regulator &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMjIxMDZiMGUtN2JlNy00M2RjLWE1M2MtMzE1YzExNDRkMjUxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes.\u00a0<\/p>\n<p>During her speech under the headline \u201cDigital asset regulation: The state perspective\u201d, Harris <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.brookings.edu\/events\/digital-asset-regulation-the-state-perspective\/\">proposed<\/a> that lawmakers in Washington take a closer look at the New York state regulatory regime: <\/p>\n<blockquote><p>\u201cWe would like for there to be a framework nationally that looks like what New York has, because I think it is proving itself to be a very robust and sustainable regime.\u201d<\/p><\/blockquote>\n<p>There is a need for more, not less regulation though, Harris added. She highlighted the extensive registration process in New York, which includes the assessment of the company\u2019s organizational structure, the fitness of its executives, financial statements, and Anti-Money Laundering and Know Your Customer regimes as the guarantor of investors\u2019 financial safety.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>New York Fed collaborates with Singapore MAS to explore CBDCs<\/em><\/strong><\/p>\n<p>During the same panel, Harris&#8217;s colleague, NYDFS virtual currency chief Peter Marton, reminded the public that FTX has never been granted a BitLicense to operate in the state. <\/p>\n<p>Introduced in 2015, the New York state BitLicense is notoriously difficult to obtain and drew harsh criticism even from New York City Mayor Eric Adams, who has been planning to make NYC the \u201ccenter of the cryptocurrency industry\u201d for a while. <\/p>\n<p>In June 2022, the DFS released regulatory guidance for U.S. dollar-backed stablecoins. Per the framework, a\u00a0stablecoin must be fully backed by reserves as of the end of every business day and the issuer must have a redemption policy <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved in advance by the DFS that gives the holder the right to redeem the stablecoin for U.S. dollars.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-national-crypto-laws-should-look-like-new-york-s-says-state-regulator\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US national crypto laws should look like New York&#8217;s, says state regulator &#8220; The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMjIxMDZiMGUtN2JlNy00M2RjLWE1M2MtMzE1YzExNDRkMjUxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[44483,3885,70934],"class_list":["post-510724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-new-york-state","tag-new-york","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510724"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510725"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}