The New York State Department of Financial Services, or NYDFS, has adopted a regulation that will allow the government agency to assess supervisory costs from licensed crypto firms operating in the state.
In an April 16 announcement, the NYDFS said the supervisory costs enforced by the new regulation would be used for “adding top talent to its virtual currency team”. The government department will assess costs for the supervision and examination of crypto firms operating in the state with a BitLicense.