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
Blockchain oracle RedStone unveils first on-chain benchmark for Ethereum staking yields
Liquity V2 Unveils Protocol Incentivized Liquidity (PIL) to Strengthen Ecosystem
Ether.fi Partners with Scroll: Introducing 8% Cashback Blockchain Credit Card
The Centralization Crisis: How Ethereum’s L2 Solutions Betray Its Founding Vision
