How NYDFS Guidance Instructs Crypto-Related Bankruptcies

By Jeffrey Robins, Elie Worenklein and Ruth Ramjit (February 28, 2023, 6:04 PM EST) — On Jan. 23, the New York Department of Financial Services released a letter[1] clarifying virtual currency custody and disclosure standards and practices that the DFS expects from entities that have received a so-called BitLicense and New York limited purpose trust companies, or virtual currency entity custodians….

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