The authorities of New York demanded that bitcoin companies prepare an emergency plan for the coronavirus



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The authorities of New York demanded that bitcoin companies prepare an emergency plan for the coronavirus

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The New York Financial Services Authority (NYFDS) recommended that regulated cryptocurrency companies submit a “meticulous and thorough” action plan in the event of an increase in the COVID-19 epidemic no later than 30 days later.

The actions of the regulator are due to an increase in the number of people infected with coronavirus in New York. The mayor of Bill de Blasio, following the ban on state governor Andrew Cuomo to hold public assemblies, introduced an emergency regime.

JUST IN: New York City Mayor Bill de Blasio has declared a state of emergency amid the coronavirus outbreak. The city has 95 cases, according to the governor.

As conceived by NYFDS, the plan should take into account employee protection strategies, strengthened cyber threat reduction measures, communication in the event of natural disasters, and procedures to ensure the continuous operation of critical operations.

The regulator also ordered companies to develop a detailed plan for assessing and monitoring financial risks that may arise if the COVID-19 pandemic intensifies.

Companies should pay particular attention to attempts to conduct fraudulent trading or withdraw funds by hackers who can take advantage of the situation.

The management pointed to the growing likelihood that cryptocurrency companies will have to transfer stored assets from “cold” to “hot” wallets.

Recall that against the background of the falling price of most cryptocurrencies on the market, the Gemini, BitMEX, Huobi and Bithumb exchanges encountered various problems in their work.

You can learn about what is happening in traditional and cryptocurrency markets from the online broadcast.

The authorities of New York demanded that bitcoin companies prepare an emergency plan for the coronavirus



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