US First Cyber Security Regulation to Pressure Bitcoin Companies
Governor Andrew Cuomo and the New York Department of Financial Services have officially announced the proposal of the country’s first cyber security regulation to protect consumers and financial institutions. If approved and activated, it will affect any financial license holders in the state, including BitLicense-approved Bitcoin companies. Once the 45-day notice and public comment period passes and the proposal is issued, any regulated financial entities, including Bitcoin companies, will be required by law to: “Establish a cybersecurity program; adopt a written cybersecurity policy;....
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