The New York State Department of Financial Services, or NYDFS, has called on the public to provide feedback to a proposal aiming to strengthen regulatory requirements for crypto firms operating in the state.
In a Sept. 18 notice, the NYDFS said Superintendent Adrienne Harris had released proposals on guidance for “enhanced criteria for coin-listing and delisting procedures” in addition to a framework “for designating coins or tokens” to the regulator’s greenlist. The proposal included recommendations for heightened standards focusing on illicit finance, legal, reputational, market and liquidity, and regulatory risks.
“Since joining DFS, I have made it a priority to ensure the Department’s regulatory and operational capabilities keep pace with industry developments to protect consumers and markets,” said Harris. “In less than two years, we’ve built our team to over sixty experienced professionals, created and enhanced consumer and industry safeguards, and engaged with policymakers around the world.”
NEW: Superintendent Harris Announces Update on Two-Year Transformational Initiative to Strengthen NYDFS’ Nation Leading #VirtualCurrency Oversight.
At the time of publication, the NYDFS greenlist for tokens included Bitcoin (BTC), Ether (ETH), and several stablecoins issued by Gemini and PayPal. The announcement also followed the adoption of rules allowing the NYDFS to assess supervisory costs from licensed crypto firms operating in New York.
Since 2015, crypto firms operating in New York have largely been required to apply for a BitLicense through the NYDFS. The regulator’s list showed trading platform eToro was the most recent to receive a license in February, making more than 30 firms licensed in the state.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
The former Labour MP, who now represents Coventry South as an independent, admitted she had launched the membership portal without her co-leader’s sign-off, but claimed she did so because she had been “sidelined” by a “sexist boys club”.
Her actions led to Mr Corbyn issuing his own statement, in which he urged members of the party – which has been given the interim name of Your Party – to ignore an “unauthorised” email urging them to become paid members and that legal advice was being taken.
In a fresh statement issued on Sunday evening, Ms Sultana acknowledged her supporters had been left feeling “demoralised” by the saga.
“For the sake of the party, and as an act of good faith, I will not be pursuing legal proceedings despite the baseless and unsubstantiated allegations against me,” she said.
“I know many people are feeling demoralised – I share that feeling. We find ourselves in a regrettable situation, but my motivation has always been to ensure the collective strength of our movement, put members first and build the genuinely democratic conference and socialist party we so urgently need.”
She added: “I am determined to reconcile and move forward. I am engaged in ongoing discussions with Jeremy, for whom, like all socialists of my generation, I have nothing but respect.”
X
This content is provided by X, which may be using cookies and other technologies.
To show you this content, we need your permission to use cookies.
You can use the buttons below to amend your preferences to enable X cookies or to allow those cookies just once.
You can change your settings at any time via the Privacy Options.
Unfortunately we have been unable to verify if you have consented to X cookies.
To view this content you can use the button below to allow X cookies for this session only.
Please use Chrome browser for a more accessible video player
1:45
What is happening at Your Party?
Despite her current attempts to repair the row, Your Party reported itself to the Information Commissioner’s Office last week after the “false membership” system was “unilaterally launched” by Ms Sultana – which it said was its duty under the law.
Questions remain over the handling of the data, which, as outlined in Your Party’s privacy notice, is owned by the Peace and Justice Project, spearheaded by the former Labour leader and independent activist Pamela Fitzpatrick, who are listed as the directors on Companies House.
The Coventry MP said in a statement after the row broke out that “at no point was members’ data misused or put at risk” and that the portal was “properly launched in accordance with the party’s roadmap”.
The ICO watchdog, which upholds information rights in the public interest, can issue fines up to £17.5m or 4% of global turnover, or pass fraud and negligence cases to police.
A spokesperson for the ICO told Sky News on Friday: “We can confirm we have received a report and are assessing the information provided.”
Sir Ed Davey has branded Elon Musk a criminal and called for him to be prosecuted for “allowing online harm to children” on his social media platform X.
The Lib Dem leader told Sky News’ Sunday Morning with Trevor Phillips the billionaire owner of X, formerly Twitter, is “inciting violence” and his social media platform is actively failing to protect children.
Sir Ed, speaking from the Lib Dem conference in Bournemouth, said Mr Musk could be prosecuted under the Online Safety Act, under which social media companies have a legal duty to protect children from harmful content and their directors are liable for criminal prosecution for breaching it.
Image: Elon Musk. Pic: Reuters
Asked if he is calling Mr Musk a criminal, Sir Ed did not miss a beat as he said: “Yes.
“Not just because of the awful things he’s done in inciting violence, and, for example, he says a civil war in our country is inevitable, that our democratically elected government should be overthrown.
“They were bad enough. But on his platform, they’re examples of adverse, pushing people on self-harm, on grooming, even selling videos showing paedophile acts, of child sex abuse acts and I think he should be held to account for them, him personally and his business.
“Ofcom now has the powers under the Online Safety Act.”
More on Elon Musk
Related Topics:
He said if Mr Musk comes to the UK, he should be arrested.
Please use Chrome browser for a more accessible video player
0:38
Sir Ed Davey enters conference with marching band
Mr Musk was accused of inciting violence during a march organised by Tommy Robinson in London last week.
He told the protest via video link: “This is a message to the reasonable centre, the people who ordinarily wouldn’t get involved in politics, who just want to live their lives. They don’t want that, they’re quiet, they just go about their business.
“My message is to them: if this continues, that violence is going to come to you, you will have no choice. You’re in a fundamental situation here.
“Whether you choose violence or not, violence is coming to you. You either fight back or you die, that’s the truth, I think.”
Image: Sir Ed Davey said Elon Musk should be arrested
Sir Ed said it is “shocking” that Mr Musk removed some of X’s child safety teams when he took over Twitter in 2022 and accused him of just being “interested in his bank account”.
“I’m interested in the safety of our children, and it is quite wrong that his business puts on these adverts,” said the Lib Dem leader.
“It’s disgusting and I hope everybody will agree with me and the Liberal Democrats that we should take really strong action against him.”
After Mr Musk acquired Twitter, many of its child safety staff were laid off or resigned, and the platform’s trust and safety council was disbanded.
Child protection experts have accused Mr Musk of leading a “race to the bottom on safety”.
Image: Elon Musk with Donald Trump in the Oval Office. Pic: AP
Ofcom, the UK’s independent media regulator, which has the power to prosecute directors of social media platforms under the Online Safety Act, has launched an investigation into X’s handling of child sexual abuse content.
This is not the first time Sir Ed has hit out at the world’s richest man, as he called for the US ambassador to be summoned in February “to ask why an incoming US official is suggesting the UK government should be overthrown”.