ChainCatcher news, according to Cryptonews, the New York Department of Financial Services (NYDFS) is hiring a senior blockchain analyst to address financial crimes in the cryptocurrency industry, including money laundering activities. Applicants must have at least one year of experience in the cryptocurrency industry and be familiar with blockchain analysis and open-source intelligence tools.Additionally, a deep understanding of the Bank Secrecy Act, anti-money laundering (AML) regulations, and related legal frameworks is required. This position is primarily responsible for using blockchain analysis and on-chain attribution to assess the risk of illegal activities for DFS-regulated virtual currency licensees, monitoring dashboards to identify anomalies that may indicate money laundering or sanctions violations, and conducting further investigations and reporting.

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.

ChainCatcher news, according to Fortune magazine, the New York Department of Financial Services plans to announce a settlement with Genesis Global Trading later today, which is a subsidiary of the cryptocurrency group Digital Currency Group.It is reported that after an investigation found significant deficiencies in Genesis's anti-money laundering and cybersecurity programs, the trading company agreed to forfeit its BitLicense, cease operations in New York, and pay a $8 million fine.

ChainCatcher news, FOX Business reporter Eleanor Terrett stated on her social platform that the New York Department of Financial Services (NYDFS) will announce modifications to its token cap policy standards today.Cryptocurrency companies operating in New York will no longer be allowed to self-certify the adoption/listing of new tokens. The purpose of eliminating the self-certification process is to ensure that all BitLicense and Limited Purpose Trust Companies (LPTC) adhere to the same DFS-approved listing standards, providing more clarity for an industry plagued by scams.

ChainCatcher news, according to The Block, a spokesperson for the New York Department of Financial Services (NYDFS) stated that the decision to take over Signature Bank on Sunday was unrelated to the bank's cryptocurrency business.Former U.S. Congressman Barney Frank previously criticized the regulators' decision, claiming they "want to convey a harmful message about cryptocurrency." A spokesperson for NYDFS said in a statement that the decision to take over the bank and transfer it to the FDIC was based on the bank's current condition and its ability to operate in a safe and sound manner. The spokesperson mentioned that they are working with Signature Bank's executives to assess its financial condition, its ability to meet withdrawal requests, and whether it can continue normal operations. (source link)

ChainCatcher message, the New York Department of Financial Services has issued a notice regarding the BUSD issued by Paxos, stating that Paxos is a limited-purpose trust company supervised by the New York State Department of Financial Services. Paxos has now been ordered to stop minting the issued BUSD, as there are several unresolved issues regarding its oversight of the relationship with Binance concerning BUSD.The New York Department of Financial Services authorized Paxos to issue BUSD on the Ethereum blockchain, but the department has not authorized Binance-Peg BUSD on any blockchain, and Binance-Peg BUSD is not issued by Paxos.According to regulatory requirements, all stablecoins issued by regulated entities must be fully backed 1:1 by cash or cash equivalents. These reserves are regularly reviewed through third-party certification and independent internal and external audits. Compliance with the New York Department of Financial Services' stablecoin guidelines and customized regulatory agreements is also part of the review process. (Source link)