New York State Department of Financial Services (DFS) Acting Superintendent Kaitlin Asrow today announced a proposed regulation to build on New York’s first-in-the-nation stablecoin framework in accordance with federal regulations under the GENIUS Act. Following the Department’s groundbreaking June 2022 guidance, this regulation contains additional provisions to ensure alignment with the U.S. Department of Treasury’s proposed requirements for state frameworks to be certified under GENIUS. “The rules and expectations that we have in New York for virtual currency companies have protected New Yorkers and facilitated a ... (full story)