"New York Department of Financial Services urges mutual market access with the UK for virtual assets"
Summary
- Adrienne Harris, superintendent of the New York Department of Financial Services, emphasized that British and US virtual asset firms should be able to access each other's markets freely.
- The US and the UK announced plans to establish a virtual asset task force, but it has not been disclosed which areas it will specifically focus on.
- The virtual asset industry has consistently called for the introduction of a regulatory mutual approval system, saying that it would allow companies that meet regulations in one country to operate in another country without separate approval.
According to the Financial Times on the 29th (local time), Adrienne Harris, superintendent of the New York Department of Financial Services (NYDFS), announced plans to resign and emphasized that virtual asset (cryptocurrency) firms from the UK and the US should be able to access each other's markets freely.
Earlier this month, US Treasury Secretary Scott Bessent and UK Treasury Secretary Rachel Reeves announced plans to establish a bilateral virtual asset task force, but which specific areas it will focus on has not yet been disclosed.
The virtual asset industry has consistently demanded the introduction of a mutual regulatory approval system between the two countries. This is a measure that would allow firms that meet regulations in one country to operate in another country without undergoing a separate, full approval process.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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