A New York Times article earlier this week reported that top officials at the Treasury Department have identified a key area for strengthening data security – third-party service providers. Reuters reported that on Tuesday of this week New York State Department of Financial Services superintendent, Benjamin Lawsky, sent a letter to a number of
Department of Financial Services
NY Department of Financial Services Proposes Virtual Currency Rule
By Jason C. Gavejian on
Posted in Data Security
The New York Department of Financial Services recently published proposed regulations which would require virtual currency businesses operating in New York State to safeguard data and protect customer privacy.
Notably, the proposed regulations include requirements for virtual currency business to maintain cyber security programs and business continuity and disaster recovery plans.
Virtual currencies under the…