New York: DFS allows Signature Bank to the Blockchain Service

the The New York financial supervision allows the Signature Bank to improve Service through the use of the Blockchain technology. The New York Department of Financial services (DFS) has stressed his tolerant attitude towards crypto-currencies and Blockchain technology.

By Christopher clover
On 7. December 2018 share Facebook Twitter LinkedIn xing mail

The crypto market is currently depressed, the Blockchain technology, however, holds unabated enter everyday life. This is especially true for New York. The city that never sleeps, has made a series of regulatory decisions was already clear that you don't want to sleep through the decentralised future. In this image, the decision, announced by the New York financial supervision on the fourth of December:

"The Department of Financial Services (DFS) has authorized the New York State-Chartered Signature Bank, a new digital payment platform called Signet. The Signet platform uses the Blockchain technology to enable the business customers to the Signature Bank 'to provide Signets' to pay you any time of the day and throughout the year, with no transaction fees"

the DFS in a press release.

New York: Hardly any fear of contact with the crypto sector.

requirement is the compliance with the New York Standards with respect to AML, KYC and consumer protection, and in February 2018 published guidelines for crypto-financial firms.

"New York supports and promotes innovation through a solid state control; and with products such as Signet, the company provides cost-effective ways payments efficiently"

pushes authorities-Head of Maria T. Vullo into the Horn of the Blockchain advocates.

much to the Favor of Signature's CEO Joseph J. DePaolo:

"It is obvious that [Ms. Vullo] and the Department of Financial Services have examined the world of FinTech thoroughly and understand how they influenced the future of financial services."

Until the beginning of November, the DFS showed that she has little fear of contact with the crypto sector. According to you distributed for the first time, a BitLicence to a company that operates Bitcoin ATMs.

In this case, the DFS is not the only block chain, affine New York Institution. Because in may, the Non-Profit organization for the development of the city, NYCEDC announced, to want out of New York, a Blockchain-center. With each progressive authorities decision, the city comes closer to a step.