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Here Is The Industry Guidance Issued By NYDFS For Virtual Assets

Here Is The Industry Guidance Issued By NYDFS For Virtual Assets
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New York Department of Financial Services Superintendent Adrienne A. Harris Releases Consumer Protection Guidance In The Event Of Virtual Currency Insolvency Guidance Reiterates Department's Expectation For Sound Custody And Disclosure Practices For Licensed Entities

<p><span>Today New York Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris released Regulatory Guidance to better protect customers in the event of an insolvency or similar proceeding. The Regulatory Guidance reiterates expectations for sound custody and disclosure practices and the paramount importance of the equitable and beneficial interest in the asset always remaining with the customer.    </span></p> ....

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