The New York State Department of Financial Services said it would start charging cryptocurrency firms registered in the state for the costs of annual supervision and examination
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The assessment charges, proposed in December, will help the New York regulator bring in additional resources and hire more staff to expand its virtual currency unit, the agency said. The assessment fees will in part be based on a formula of a crypto firm’s size and complexity, Ms. Harris said at the conference. The assessment, she said, will ultimately “go a long way toward helping the space grow and helping make sure it grows safely.”Our Morning Risk Report features insights and news on governance, risk and compliance.
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