New York State Department of Financial Services (DFS) has outlined criteria for USD-backed stablecoins issued by DFS-regulated entities.
MoneyGram has agreed to pay $8.25 million in penalties pursuant to a Consent Order entered into with the New York DFS.
The New York DFS has approved the application of Bakkt Marketplace, LLC for virtual currency and money transmitter licenses.
The New York State Department of Financial Services has granted a charter under New York Banking Law to BitGo.
With DFS approval, GMO is authorized to issue, administer, and redeem Japanese Yen and U.S. Dollar-pegged stablecoins in New York.
PayPal is the first to receive a conditional Bitlicense from the New York State Department of Financial Services.