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Syncing _posts/2018-06-22-zcash-company-response-to-secret-service-recommendation.md from WordPress at https://blog.z.cash (Zcash Blog) - wpghs

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Josh Swihart 2018-06-23 01:18:44 +02:00
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@ -19,7 +19,7 @@ post_date: 2018-06-22 23:12:33
<span style="font-weight: 400;">Governments have already broadly recognized citizen’s data and financial rights through legislation including the </span><a href="https://www.eugdpr.org/"><span style="font-weight: 400;">EU’s GDPR</span></a><span style="font-weight: 400;"> and the </span><a href="https://www.ftc.gov/tips-advice/business-center/privacy-and-security/gramm-leach-bliley-act"><span style="font-weight: 400;">United States’ Gramm-Leach-Bliley Act</span></a><span style="font-weight: 400;">.</span>
<span style="font-weight: 400;">Earlier this year, the </span><a href="https://www.dfs.ny.gov/about/press/pr1805141.htm"><span style="font-weight: 400;">New York Department of Financial Services (NYDFS) issued a press release</span></a><span style="font-weight: 400;"> explaining their decision to grant Gemini custodial and listing services for Zcash. In the release the NYDFS states that, “Virtual currency license applicants are subject to a rigorous review of anti-money laundering, capitalization, consumer protection and cyber security standards.” </span>
<span style="font-weight: 400;">Earlier this year, the </span><a href="https://www.dfs.ny.gov/about/press/pr1805141.htm"><span style="font-weight: 400;">New York Department of Financial Services (NYDFS) issued a press release</span></a><span style="font-weight: 400;"> explaining their decision to grant <a href="https://blog.z.cash/gemini-announces-support-for-zcash/">Gemini</a> custodial and listing services for Zcash. In the release the NYDFS states that, “Virtual currency license applicants are subject to a rigorous review of anti-money laundering, capitalization, consumer protection and cyber security standards.” </span>
<span style="font-weight: 400;">As with NYDFS, we support FinCEN’s approach in applying AML/KYC controls at the point of exchange between fiat and digital currency, and stand ready to assist the Secret Service, FinCEN and other regulatory bodies through technology education.</span>