New York “turned out of playing roles” in the CRIPTO ecosystem – head of the state regulator

Adrienne Harris, the head of the New York State Ministry of Finance (NIDFS), said New York has a “grazing role” in the CRIPTO ecosystem, especially in shaping the regulatory framework for digital property.

During the panel 14. May in consensus 2025. In Toronto, she said that neither property was asked to provide regulator policies. “Given the federal regulations and legislation (…) Congress members often come to us (NIDFS) wondering about our process, about our regulations, about the guidelines, so that Harris said.

According to Harris, NIDFS was “unnecessarily hard” and the resources were missing in the past. Now, under her settlement, she said that NIDFs was “hard, but fair”, noting that the digital currency monitoring team has doubled in size since.

Harris took over As a NIDF supervisor in September 2021. after time, working in an educational, non-profit and private sectors. In New York State, the CRIPTO business must receive bitlingens or confidence with limited purpose.

“We’ve added nine parts of regulatory guidelines, so it’s still hard to get the bitlicense or trust of limited purposes,” Harris said. “But I think it’s (…) evidence in podding when you see that FTX, Voyager, Celsius, did not pass our test and therefore could not operate.”

All three of those CRIPTO companies bankrupt 2022. years. The result was a widespread infection in the industry and long-term legal proceedings. FTX’s founder, Sam Bankman-Friedand Celsius network Alek Moshinski They were sentenced to 25 and 12 years in prison, respectively. The founder of Voyager, Steven Ehrlich, is Dealing with legal charges of allegedly fooling customers.

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Harris ‘hopes’ for Stableco’s legislation

The legislation of StaBlecoin was the topic at the head of many advocates of the Cripto industry 2025. years. Recently regarded as a bipartic endeavor, he transferred to slow 8. May Democrats withdrew support for that Genius By congratulations for the crypt’s investment of President Trump.

However, Harris remains “hoping” Congress will eventually pass the legislation of Steblekoin.

We work with a congress on all variations of their crypto and stablecoin legislation now in the last three years.

According to Harris, all recent legislation related to the Decree on Stablecoin reviewed New York officials.

“There is no version of any of these accounts, whether it is a house or senate, R is or D, that you do not know how to say, give us your technical assistance, your insights here”, added that most of these proposals are involved in legislation.

NIDFs, according to Harrass, still want to be the “state road for the CRIPTO company”.

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