U.S. consumers ended the fourth quarter with $1.28 trillion in credit card balances, marking the highest level on record. The Federal Reserve Bank of New York found that there’s been a gain of $44 billion during the three months, which indicates how households depend on revolving credit amid mounting pressures.
The ex-mayor of New York City, Eric Adams, has introduced a Solana-based meme coin, which he says will help in fighting increasing hate and influence the next wave of revolution in the city. The token is named the New York City Token (NYC), whose launch was announced through a January
Brad Lander, the New York City Comptroller, attacked the recent proposal of Eric Adams to issue municipal bonds supported by Bitcoin, alerting that doing so will come with a financial risk and take away investor confidence. On May 29, Lander issued a statement in which he mentioned that he would
New York City’s Mayor Eric Adams has doubled down on his pro-crypto stance, announcing the creation of a new Digital Assets Advisory Council aimed at transforming New York into the world’s “crypto capital.” The announcement at the NYC Crypto Summit on May 20 signals the city’s intent to lead in
The New York Senator is making rounds across the media with his recent bill proposal in the state. He has introduced The New York State Cryptocurrency and Blockchain Act recently, which also included establishing a crypto task force. Ever since Trump’s election as the President in Nov 2024, crypto regulation
CoinEx, the Hong Kong-based crypto exchange, has been banned from operating in New York by Attorney General Letitia James. NYAG mentioned that the crypto exchange has failed to register as a broker-dealer. So the authorities shut down the crypto exchange. 🚨There are serious consequences for ignoring New York laws. As
New York City (NYC) Comptroller Brad Lander has announced a significant action to freeze deposits at Capital One Bank and KeyBank. This choice is a result of Lander’s continued efforts to protect New Yorkers’ financial interests. Furthermore, it upholds ethical banking practices in the city. The action is viewed as
A new crypto regulation named CRPTO Act came into existence, to secure all the New York-based crypto investors with their finances. Letitia James, the General Attorney of New York announced the legislative proposal of the CRPTO Act on May 8. The laws on the regulations are set to discard the
Letitia James, New York’s attorney general, has proposed a bill to regulate the cryptocurrency sector. It will give the New York State Attorney General more power over local crypto companies. The development of the crypto sector in New York has been stunted by the state’s regulatory measures. New York is
The New York State Department of Financial Services (NYDFS) has implemented a new regulation. That empowers the government agency to collect supervisory fees from licensed cryptocurrency firms operating within the state. This means that the agency now has the authority to obtain the necessary funds to oversee and regulate the
