NYDFS
Former NYDFS Superintendent Reacts to Signature Bank Shutdown
Reuters reports that the Federal Deposit Insurance Corporation (FDIC) wants bids submitted by today for banks interested in buying the assets of Signature Bank. Former New York State Department of Financial Services (NYDFS) Superintendent Maria Vullo discusses Signature's shutdown and the potential implications for the U.S. crypto regulatory landscape.
NYDFS Says Signature Bank Closure Due to 'Crisis of Confidence' in Leadership
Signature Bank was not shut down for crypto-related reasons, the New York Department of Financial Services said Tuesday, rejecting claims the regulator took over the bank to send an "anti-crypto message." Meanwhile, Bloomberg reports that the U.S. Department of Justice in Washington, D.C., and New York were investigating possible lax monitoring at Signature Bank to prevent money laundering. "The Hash" panel discusses the latest developments at Signature and explain why this is a continuing story to watch.
Signature Bank Shutdown Caused by 'Crisis of Confidence' in Leadership, NYDFS Says
The New York regulator pushed back against claims it shut down Signature because of crypto.
SEC Objects to Binance.US’ $1B Voyager Deal, Alleging Sale of Unregistered Securities
Federal and New York regulators object to a billion-dollar deal they say may be unlawful and discriminatory as they examine Voyager's VGX token.
Trading Platform eToro Gains New York BitLicense to Provide Crypto Services
It also secured a money transmitter license from the New York State Department of Financial Services.
State of Crypto: Interpreting the Paxos-Binance Tea Leaves
NYDFS forced Paxos to stop issuing Binance USD. The SEC has said BUSD may be a security. Stay with me here – Paxos may not be the regulatory target.
Former Paxos Exec: Regulators Failed to Address Crypto Collapses, Now They’re Going After 'On-Ramps'
Jesse Austin Campbell, former head of portfolio management, says that “probably, the greatest mistake you could have made is to be an onshore, regulated company in the crypto space.”
Paxos to Stop Minting Stablecoin BUSD: What Happens Next?
Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just after a report of the threat of legal action from the U.S. Securities and Exchange Commission (SEC). Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor Jesse Austin Campbell weighs in. "The lesson showing people here is that over the last few years, the greatest mistake is to be an on shore regulated company in the crypto space," Campbell said.
Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security, Says It Will Litigate if Needed
The stablecoin issuer confirmed it has received a Wells Notice from the SEC, indicating a possible enforcement action is forthcoming.
