Has New York State Become the Leader in U.S. Digital Assets Regulation? A conversation with Adrienne Harris, Superintendent s

Tuesday, January 30, 2024

4PM

Allison Dining Room, Taubman, 5th Floor

Has New York State Become the Leader in U.S. Digital Assets Regulation? A conversation with Adrienne Harris, Superintendent of the New York Department of Financial Services; Timothy Massad, HKS Director, Digital Assets Policy Project; and Prof. Howell Jackson, Harvard Law School

The New York Department of Financial Services (NYDFS) is undoubtedly the leading state regulator for financial services, and arguably has eclipsed the importance of Washington in some areas. With Congress unable to pass crypto legislation, and the SEC and the CFTC focused only on enforcement, NYDFS has implemented virtual currency regulations, including a BitLicense, pertaining to trading platforms, stablecoins, custody and other aspects. NYDFS also regulates banks --it was the lead regulator for Signature Bank and was responsible for seizing and closing it in March 2023. It has also been at the forefront of regulators thinking about the implications of AI. 

Adrienne A. Harris joined DFS in September 2021. Prior to joining DFS, she served as Senior Advisor to Deputy Treasury Secretary, Sarah Bloom Raskin and later joined the National Economic Council where she managed the financial services portfolio for President Obama. She also served as a Professor and Faculty Co-Director at the University of Michigan's Gerald R. Ford School of Public Policy's Center on Finance, Law and Policy.​