TechFlow news — On August 13, according to Cointelegraph, the New York State Department of Financial Services (NYSDFS) is hiring a policy specialist to develop regulations related to cryptocurrency, decentralized finance (DeFi), and artificial intelligence. The position falls under the Innovation Policy Unit and will focus on addressing cutting-edge policy issues in financial services.
Since launching the BitLicense in 2015—a commercial license for cryptocurrency operations—NYSDFS has been updating its regulatory framework to strengthen oversight of crypto exchanges and service providers. Recently, NYSDFS has also required crypto firms to submit their token listing and delisting policies for review. Additionally, New York State Comptroller Thomas DiNapoli raised concerns about BitLicense administration, pointing out the lack of comprehensive security assessments prior to application approvals. Members of the Innovation Policy Unit are expected to conduct qualitative and quantitative research to support policy evaluations. Currently, 32 crypto exchanges are registered under either the BitLicense or a trust charter.
