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NYDFS’s new crypto business guidance for consumer complaints

Bitcoin website is shown on a laptop screen.
Photo: Sean Gallup/Getty Images

Julie DiMauro

2 min read
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NYDFS issues new “expectations” of cryptocurrency service providers for handling customer complaints.

The New York Department of Financial Services (NYDFS) just issued guidance that instructs cryptocurrency service providers to implement complaint resolution mechanisms. Crypto companies must be regulated by the NYDFS, by registering for a “BitLicense” granted by the agency, to do business in the state of New York. 

The NYDFS

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