NYDFS Puts Additional Regulatory Burdens on Bitcoin Sector

NYDFS Puts Additional Regulatory Burdens on Bitcoin Sector

The NYSDFS has proposed a new draft cybersecurity policy applicable to financial institutions including Bitcoin platforms in the state. The New York Department of Financial Service (NYDFS) has published a new cybersecurity regulation draft which might have a direct-indirect impact on the state’s Bitcoin industry growth. Touted as the regulation that would limit consumers’ exposure to cyber attacks, the aforementioned law is likely to put additional legal burdens on the New York’s freshly brewing Bitcoin sector. The state’s FinTech entrepreneurs were already facing troubles in complying....


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