New York’s virtual currency rules face scrutiny in the state courts today at a hearing that will examine whether regulators overstepped their authority in crafting the controversial BitLicense.
An entrepreneur behind a local Bitcoin firm is suing the New York Department of Financial Services (DFS), claiming that oversight of the emerging technology should have been handled by state legislators rather than the regulator.
Theo Chino, founder of Chino Ltd, was planning to offer Bitcoin services to small corner stores known locally as “bodegas”, but shut his business after he was unable to obtain recognition from the authorities.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.