In a press release posted on the official NYDFS site, Andrew M. Cuomo, New York State Governor, said that today’s announcement demonstrates the state’s ability to remain at the forefront of emerging technologies in the financial industry, “With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience.” added Cuomo.
Maria T. Vullo, Financial Services Superintendent, said in the press release that NY State’s “smart and careful regulation” has created an environment where the digital currency industry can thrive.
In October of last year, the NYDFS gave Gemini permission to operate as a limited purpose trust company in NY, which allowed Gemini to act as a venue for fiat-to-bitcoin transfers and vice versa.
