The New York Department of Financial Services released guidance for New York-regulated banking organizations that wish to engage in virtual currency-related activities.
N.Y. banking agency issues crypto guidance
December 16, 2022 / By ICBA
The New York Department of Financial Services released guidance for New York-regulated banking organizations that wish to engage in virtual currency-related activities.
The New York Department of Financial Services released guidance for New York-regulated banking organizations that wish to engage in virtual currency-related activities.
Details: The guidance reminds covered institutions to seek prior approval before commencing crypto-related activity, including where any portion of those activities will be conducted by a third party.
Federal Guidance: Separate guidance from the Federal Reserve, FDIC, and OCC encourages banks to notify their lead supervisory point of contact of their intent to engage in crypto-related activities.
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