New York Financial Services Superintendent: Welcomes Federal Cryptocurrency Legislation, but States Should Retain Regulatory Authority

ChainCatcher news, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris stated that she welcomes federal cryptocurrency legislation, but that states should retain regulatory responsibilities.

Adrienne Harris said, "We may be more eager than anyone to work with our federal partners and see the introduction of federal legislation and regulation. I believe that the passage of legislation and the establishment of regulation are very important, but states should still retain their regulatory roles."

Adrienne Harris expressed an "optimistic" attitude that the House and Senate may soon push related legislation, noting that NYDFS has engaged in dialogue with lawmakers from both chambers and both parties over the past few years.

Additionally, Harris stated that NYDFS has one of the largest cryptocurrency departments in the world, with 60 full-time employees focused on the cryptocurrency industry.