New York State Department of Financial Services (NYDFS)
The New York regulator of state-chartered banks, insurers and licensed financial services, including virtual currency businesses.
Overview
NYDFS licenses and supervises financial institutions operating in New York, issued the BitLicense regime for virtual currency businesses and the Part 500 cybersecurity regulation, and is an active enforcer.
Its powers include writing binding rules, supervising and examining the organisations it oversees, granting and withdrawing licences or registrations, investigating and imposing penalties and restricting activities or withdrawing permissions.
In New York (the United States) it works at state level. Instruments connected to it in this glossary include NYDFS Part 500 and GENIUS Act.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
It can both set the rules and punish breaches of them, so its priorities shape compliance risk directly.
Who it affects
Organisations in banking, insurance and crypto assets in the United States.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to NYDFS. Select one to open it.
What to do about it
- 1Confirm whether NYDFS has power over you, and through which licence, registration, membership or activity.
- 2Follow its rules, guidance and enforcement publications as they are issued.
- 3Map each obligation it creates to a control with a named owner.
- 4Keep examination-ready evidence for its highest-risk obligations.
From requirement to evidence.
Regulation Layer tracks its publications in the change feed, maps its obligations to your controls, and links its enforcement actions to the obligations they cite.
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