**New York DFS Seeks Specialist for Crypto and AI Policies**

The New York State Department of Financial Services (NYSDFS) is on the hunt for a specialist to join its Innovation Policy Unit. This role will focus on crafting policies for cryptocurrencies, decentralized finance (DeFi), and artificial intelligence (AI).

**Key Responsibilities:**

- Address policy issues in traditional and emerging financial markets.

- Tackle the use of AI and machine learning in finance.

**BitLicense Updates:**

- Introduced in 2015, the BitLicense has seen continuous updates.

- Recent changes require crypto firms to submit coin listing and delisting policies for approval.

- NYSDFS aims to mitigate technological, operational, and cybersecurity risks.

**Concerns Raised:**

- Earlier this year, Comptroller Thomas DiNapoli criticized the NYSDFS for incomplete security checks and inadequate verification of applicants' tax obligations.

**Customer Service Standards:**

- New standards for virtual currency entities (VCEs) will be implemented by Q3 2024.

- Recordkeeping and customer feedback must be accessible to the DFS by November 1, 2024.

Currently, 32 crypto exchanges operate under BitLicenses or trust charters in New York.