NYDFS Sets Standards for Virtual Currency Entities

NYDFS Sets Standards for Virtual Currency Entities

The New York Department of Financial Services (DFS) has set regulatory standards for customers of virtual currency entities (VCEs) to evaluate the efficacy of customer service. The DFS established comprehensive criteria about VCE electronic and telephone communications, transparency, and the publication of frequently asked questions (FAQs) online. In addition to resolution periods, VCEs will be […]

Hester Peirce Proposes for Cross-border Digital Securities Sandbox

Hester Peirce Proposes for Cross-border Digital Securities Sandbox

In response to an FCA-BoE consultation, SEC Commissioner Hester Peirce proposed a cross-border digital securities sandbox. Allowing businesses in the US and the UK to test distributed ledger technology (DLT) under a single legal framework is the proposal’s way of encouraging innovation and improving regulatory monitoring. Peirce stated in the response: “This joint proposal reflects a commendable […]