The New York State Department of Financial Services (NYDFS), represented by Superintendent Harris, has reaffirmed the importance of its BitLicense framework as a global standard for regulating cryptocurrency businesses. Harris emphasized that while the crypto industry is evolving, the principles behind the BitLicense remain crucial for maintaining consumer protection and ensuring financial stability. In her remarks, she highlighted the need for effective regulation that balances innovation with oversight, ensuring that companies operating within the state adhere to rigorous compliance measures. The BitLicense, introduced in 2015, was one of the first comprehensive regulatory frameworks in the U.S. aimed at governing cryptocurrency transactions, and Harris believes it continues to set the benchmark for other jurisdictions worldwide.

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