NYDFS Creates New Guidance for Crypto Firms to Improve Customer Service Standards
The New York State Department of Financial Services (NYDFS) released new guidelines on May 30 to strengthen customer service standards for virtual currency entities (VCEs). These guidelines will take effect on November 1.
The New York State Department of Financial Services stated that these comprehensive guidelines aim to ensure that VCEs have strong customer service mechanisms and are able to timely and effectively handle customer issues. VCEs should keep their customer service policies up-to-date and comply with all relevant laws and regulations.
The DFS guidelines also require VCEs to designate personnel responsible for managing customer service and complaint procedures. The statement is part of Superintendent Harris's VOLT program, which greatly expands the DFS's ability to regulate the virtual currency industry.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Michael Saylor: 60 companies hold over 590000 BTC
Bitwise files new ETF targeting firms with large Bitcoin holdings
Montenegro Justice Minister signs Do Kwon extradition to the US
Terra (LUNA) Founder Do Kwon’s Fate Finally Certain – Here’s What Happens Next
The decision that will greatly affect Terra (LUNA) founder Do Kwon's future has finally been shared with the public.