Tag: NYDFS

Paxos becomes latest crypto company to score OCC approval for a bank charter

Crypto firm Paxos has received conditional approval for a bank charter from the U.S. Office of the Comptroller of the Currency (OCC), giving it the green light to split its operations between two entities: one regulated on a national level and one maintaining its current regulatory structure. Paxos isn’t the first crypto firm to receive […]

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New York regulator licenses GMO Internet to issue the first JPY-pegged stablecoin

New York regulator licenses GMO Internet to issue the first JPY-pegged stablecoin

The New York Department of Financial Services (NYDFS) has given Japanese tech giant GMO Internet the green light to issue two stablecoins — a dollar-pegged coin (ZUSD) and a yen-pegged coin (GYEN). GYEN is the first non-USD stablecoin approved by the NYDFS. Both GYEN and ZUSD will be issued by GMO-Z.com Trust Company, a limited […]

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New York Approves Its First Publicly Available Japanese Yen Stablecoin

New York Approves Its First Publicly Available Japanese Yen Stablecoin

The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses for companies engaged in crypto activities. First Regulated Yen […]

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PayPal Introduces Crypto Trading, Plans To Start Crypto Shopping Facility

The long wait has finally ended! On Wednesday, October 21, online payments giant PayPal Holdings has confirmed its entry in the crypto market as per the Reuters report. PayPal said that it will allow its customers to trade Bitcoin and other digital currencies via the company’s online wallets. PayPal said that it has received the […]

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NYDFS invites digital asset firms to ‘techsprint’ aimed at digitizing financial reporting

NYDFS invites digital asset firms to ‘techsprint’ aimed at digitizing financial reporting

The New York Department of Financial Services (NYDFS) is bringing members of the digital asset industry together with other experts for a “techsprint” aimed at to coming up with new digital methods for these companies to submit regulatory reports. The need for a new approach became apparent when COVID-19 pandemic caused reporting to be delayed, […]

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