NY BitLicense Chief Clashes with U.S. Treasury over Fintech Banking Charters

The New York State Department of Financial Services (DFS) has stated its opposition  to the U.S. Department of Treasury’s endorsement of regulatory “sandboxes” for fintech companies that essentially allow fintechs to receive special bank charters, according to a statement on its website by Maria T. Vullo, DFS superintendent and overseer for the state’s BitLicense regime. The …

‘Toddlers Play in the Sandbox’: NYDFS Chief Defends BitLicense

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. New York’s controversial cryptocurrency regulatory framework — the BitLicense — is frequently criticized in industry circles as an example that regulators in other jurisdictions should not follow if they hope to encourage innovation in this burgeoning field. However, Maria T. Vullo, superintendent …