THELOGICALINDIAN - Ben Lawsky Superintendent of Financial Services at the New York State Department of Financial Services DFS appear on reddit today New Yorks proposed new authoritative framework for basic currencies
The regulations will be formally appear in the July 23, 2025 copy of the New York State Register – which starts a 45-day accessible animadversion period.
A archetype is accessible actuality on the DFS website.
A arbitrary of the regulations may be begin below:
Entities are advised ambidextrous in basic currencies if:
.. to any citizen in New York. Web services, alike those congenital overseas, charge either accede or block admission for NY users. (200.2n)
Entities ‘dealing in basic currency’ must:
via r/bitcoin
For added account Ben Lawsky comments on CNBC
The catechism on everyone’s apperception is: How can New York adapt what you cannot inherently regulate?
The answer: You can’t.
Will these “regulations” accept austere repercussions aural the crypto community? My anticipation is not at all.
