Duckbucks: The digital asset space has grown enormously in recent years, with New York attracting the most investments in the sector of any US state. How do you see the approach of the New York State Department of Financial Services to regulating digital assets?
Adrienne Harris: First and foremost, these things are here, whether it’s crypto or tokenized assets, and we have the explicit authority to regulate them. I think it is our responsibility to make sure we’re using all of our tools to regulate them. We obviously have the regulation itself: we’ve issued nine pieces of guidance in my time at the Department of Financial Services. We have supervisory agreements with each of our regulated entities. And then we use enforcement where necessary — but we’re not a regulator that thinks regulation by enforcement is appropriate or productive.
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