Lessons from New York for California’s New Crypto Licensing Regime

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In this regard, protecting the company against intrusion and attack must be a high priority. For financial services, cybersecurity is a central concern. The biggest risk to business and government bar none is cyber threats. New York’s regulatory standard, written and enforced by DFS, is the national standard and a model for other state and federal regulators, including the National Association of Insurance Commissioners and the Federal Trade Commission. Here, the goal is to guard against theft of assets, crippling of cyber infrastructure, and ransomware attacks.

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