NYDFS Virtual Currency BitLicense Framework: Overview

Financial institutions, money service businesses, and money transmitters are increasingly engaging in virtual currency activity. New York was one of the first states in the country to establish a virtual currency licensing process and require a business license for virtual currency business activities conducted in New York or with New York residents. This practice note examines the legal and regulatory framework governing virtual currency business activity in New York.

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• Trends & Insights provides the latest in news articles and insights documents on trending areas for financial service organizations. Check out the latest in virtual currency news, US banking authorities aim to set up crypto framework to satisfy interest by banks, consumers, Hsu says.
• OCC Fintech Charter Resource Kit is an invaluable secondary resource providing an overview of the fintech charter developed and offered by the Office of Comptroller of the Currency (OCC) and key information for nonbank technology firms.
• The Practical Guidance Journal Spring 2022 Edition features updates related to LIBOR replacement and the Secured Overnight Financing Rate (SOFR).
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