2019-7-24 11:02 |
The New York State Department of Financial Services has announced the launch of a new division which will absorb the regulator’s current department that oversees cryptocurrency businesses in the state.
In a statement released yesterday, financial services superintendent Linda Lacewell announced the regulator’s new research and innovation division. The new division will be responsible for “keeping pace” with technological developments in banking, insurance, and fintech. In essence, it appears the division will be tasked with assessing new financial technologies and devising suitable regulations. The division will also become home to the regulator’s department that licenses and supervises businesses that deal…
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