New York State’s Top Financial Cop Plans New Guidance for NFTs

New York state’s top financial watchdog is moving to step up oversight of the market for nonfungible tokens.

Adrienne Harris, the superintendent of New York’s Department of Financial Services, said on Wednesday that her agency was planning to issue new guidance on how its rules apply to NFTs. The regulator also recently put out guidelines on stablecoins and blockchain analytics.

Adrienne Harris, superintendent of New York State Department of Financial Services (DFS), speaks during an interview in New York, U.S., on Wednesday, May 25, 2022. Harris discussed innovation in digital currencies.

Photographer: Christopher Goodney/Bloomberg

“You’ll continue to see leadership from DFS in virtual currencies,” she said in a pre-recorded interview played at the ACAMS AML Risk Management & Securities Summit. “You’ll continue to see more transparency, more engagement here,” she said. ...