NYDFS 'More Eager Than Anyone' for Federal Legislation, Chief Says
New York Department of Financial Services Superintendent Adrienne Harris supports federal legislation on cryptocurrencies but emphasizes the importance of state oversight. She argues that states have effectively regulated digital assets without leading to a "race to the bottom." Harris expresses optimism about potential federal legislative progress, noting ongoing discussions with lawmakers. The NYDFS's BitLicense has evolved over nearly a decade, focusing on balancing innovation with consumer protection. Harris highlights the growth of NYDFS's crypto unit, which employs 60 staff members. Public acceptance of the BitLicense has increased, and it has been recognized by federal lawmakers, though Harris acknowledges valid critiques of the framework.
