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top-crypto-news New York

New York Senate Authorizes Financial Services Department to Evaluate Crypto Companies

Alex Coin
April 10, 2022
Reading Time: 2 mins read
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NYDFS es el organismo que supervisa la histórica licencia de moneda virtual del estado de Nueva York, comúnmente conocida como BitLicense.

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***

The New York State Senate is pushing forward with the efforts of the Department of Financial Services (NYDFS) of the state to oversee the cryptocurrency sector.

Along those lines, the New York Senate passed its budget for fiscal year 2023 earlier yesterday, which includes a provision tasking the NYDFS with developing a new “assessment” for the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. companies it oversees. In this way it seeks to align its supervisory mandate on virtual currencies with the same way the regulator supervises more traditional banks. and financial services firms.

Las evaluaciones están destinadas a “sufragar los gastos operativos”, según el texto del presupuesto revisado por medios como Coindesk, y solo están destinadas a cubrir los gastos relacionados directamente con la supervisión de las empresas cripto.

“The expenses of each examination of the affairs of any person regulated regulation is when something is controlled by a specific set of rules. under this chapter engaged in the virtual currency currency is a medium of exchange that defines value. business shall be borne and paid by the regulated person so examined, but the superintendent, with the approval of the comptroller, may, in the superintendent’s discretion, for good cause shown, remit such charges.” says the text of the budget.

The BitLicence

NYDFS oversees the most developed regulation of cryptocurrencies in the U.S. through its virtual currency licensing regime, known asBitLicense a business license permitting regulated virtual currency activities, issued by the New York State Department of Financial Services.. Companies that hope to provide New York residents with access to cryptocurrency trading or wallet a place where cryptocurrency users can store, send and receive digital assets. services must obtain a BitLicense before being able to establish a business.

In a statement, NYDFS Superintendent Adrienne Harris said that the budget “would revitalize our state’s economy and create a stronger New York.”

“El presupuesto incluye una nueva autoridad para cobrar los costos de supervisión de los negocios de moneda virtual con licencia, como ya lo hace el Departamento para las compañías bancarias y de seguros. Nueva York fue el primero en comenzar a otorgar licencias y supervisar empresas de moneda virtual, y continuamos atrayendo a más licenciatarios y la mayor cantidad de fondos de inicio de criptografía de cualquier estado de la nación. Esta nueva autoridad facultará al Departamento para formar personal con la capacidad y la experiencia para regular y apoyar mejor esta industria en rápido crecimiento”, dijo.

The new budgetary provisions will enter into force in two months’ time.

It’s worth remembering that there are other crypto issues being discussed by New York lawmakers, most notably, last March a bill was unveiled that would seeks to curb cryptocurrency mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. operations s de prueba de trabajo ( PoW ) as Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. statewide.

Sources: DFS, Yahoo , Coindesk, archivo

Translation and version of DiarioBitcoin

Imagen de Unsplash

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Alex Coin

Cryptoinvestor. I follow the world of cryptocurrencies. Looking for the most relevant and significant news for you :)

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