NY DFS Virtual Currency

DFS Guidance on Financial Sector Impact of Global Conflicts

The New York Department of Financial Services issued guidance on June 23, 2025 addressing the financial sector impact of ongoing global conflicts. The guidance advises virtual currency companies and other regulated entities on risk management considerations related to geopolitical instability affecting markets and operations. DFS expects covered entities to assess their exposure to global conflict risks and implement appropriate safeguards.

Bakkt Crypto Solutions Surrenders New York Virtual Currency License

Bakkt Crypto Solutions, LLC has voluntarily surrendered its New York virtual currency license, as published by the NY DFS Virtual Currency division. The surrender removes the company's authorization to conduct virtual currency business activity in New York under state supervision. This notice confirms the completion of the voluntary surrender process, which is distinct from an enforcement action or license revocation initiated by the regulator.