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NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship," said the NYDFS.

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NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship," said the NYDFS.

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This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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