After reviewing the licensing/chartering/approval structures that DFS uses for entities seeking to engage in virtual currency activities, we discuss the role of guidance in DFS’s regulation and oversight of virtual currency, particularly new DFS guidance on digital asset custody practices and DFS expectations for how entities acting as digital asset custodians can better protect customers in the event of an insolvency or similar proceeding. We also discuss feedback DFS has received from other regulators and industry, steps DFS takes to ensure accountability and compliance with its guidance, the role of industry engagement with DFS in compliance programs, DFS recruiting and training efforts, likely areas of focus for future DFS guidance, including the role of disclosures and suitability requirements, and DFS engagement with federal and state regulators in establishing uniform standards for regulation of virtual currency.
Alan Kaplinsky, Senior Counsel in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation, joined by Lisa Lanham, a partner in the Group.
View all episodes
By Ballard Spahr LLP
4.9
4545 ratings
After reviewing the licensing/chartering/approval structures that DFS uses for entities seeking to engage in virtual currency activities, we discuss the role of guidance in DFS’s regulation and oversight of virtual currency, particularly new DFS guidance on digital asset custody practices and DFS expectations for how entities acting as digital asset custodians can better protect customers in the event of an insolvency or similar proceeding. We also discuss feedback DFS has received from other regulators and industry, steps DFS takes to ensure accountability and compliance with its guidance, the role of industry engagement with DFS in compliance programs, DFS recruiting and training efforts, likely areas of focus for future DFS guidance, including the role of disclosures and suitability requirements, and DFS engagement with federal and state regulators in establishing uniform standards for regulation of virtual currency.
Alan Kaplinsky, Senior Counsel in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation, joined by Lisa Lanham, a partner in the Group.
9,162 Listeners
8,485 Listeners
8,647 Listeners
360 Listeners
30,664 Listeners
32,098 Listeners
6,274 Listeners
25,777 Listeners
110,705 Listeners
1,456 Listeners
10,141 Listeners
16,077 Listeners
15,457 Listeners
9 Listeners
13 Listeners