NY Comptroller Criticizes State Financial Regulator’s Crypto Oversight Prowess
- Department of Financial Services oversees crypto in NY
- Comptroller questioned DFS approach to BitLicense regime
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As the crypto industry awaits a pivotal decision from an often adversarial national regulator, New York state’s own Department of Financial Services is facing criticism of its approach to policing the asset class.
A report released in January by the office of the state’s comptroller, Thomas DiNapoli, questioned the thoroughness and efficacy of New York’s so-called BitLicense program.