New York issues fresh guidance to tackle FTX-style co-mingling
The move comes after the collapse of Sam Bankman-Fried’s FTX and trading firm Alameda left clients billions of dollars out of pocket.
Cryptocurrency news by Protos · Protos
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Show Notes
Crypto companies will be forced to keep customer assets separate from company assets under new guidance due to be published by the New York State Department of Financial Services (NYDFS).
As reported by Reuters, the state’s top financial regulator is pushing for new rules on co-mingling of funds. The move comes in the wake of the collapse of US-based exchange FTX and trading firm Alameda Research which left the companies’ clients billions of dollars out of pocket.
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