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 …