The New York Department of Financial Services may surpass the U.S. SEC to become the most influential crypto regulatory agency

New York Department of Financial Services (DFS) may ultimately surpass the US Securities and Exchange Commission (SEC) to become the most influential cryptocurrency regulatory agency. Adrienne Harris, head of the New York Department of Financial Services, said at the Washington Policy Summit hosted by the cryptocurrency industry trade organization Blockchain Association on Thursday that we currently have more than 60 people, which may be the largest cryptocurrency department in the world. We are also the only prudential regulatory agency with specific authority over cryptocurrency, and I attach great importance to this. I plan to continue to expand the team and deepen the state's cryptocurrency regulation.

Harris said regarding the regulation of stablecoins, our goal is to be an honest broker. Everything we do at DFS is non-partisan and has nothing to do with taking sides.

So far, DFS has issued eight cryptocurrency regulatory guidelines, involving stablecoins, market manipulation, and blockchain analysis, among others.