New York Financial Regulator Adopts Assessment Rule for Crypto Companies – Here’s What You Need to Know

The New York State Department of Financial Services has passed a new law that requires companies holding a BitLicense to pay assessment fees similar to insurance and banking firms. 
The regulation will give the NYSDFS new authority to “collect supervisory costs from licensed virtual currency businesses” under a provision in New York’s fiscal year 2023 budget, according to a Monday press release….
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