New York State Department of Financial Services (DFS)

Money Moves

Approved the merger in August 2026 with remittance commitments

For fifteen months, Western Union cleared regulators in 54 states, territories and countries for its $500 million purchase of remittance rival Intermex. California was the last approval left, and on November 10 the state's Department of Financial Protection and Innovation attached conditions Western Union refused to accept.

Updated 2 hours ago

Rule Changes

Signed an information-sharing memorandum with the EBA on USDC supervision

The European Banking Authority named Circle's USDC the first 'significant' e-money token in the European Union on October 14. It's the first of 45 stablecoins notified under MiCA, the EU's crypto-asset rulebook, to clear that designation bar.

Updated Oct 18

Rule Changes

As of May 2026: Home of the new frontier-AI oversight office created by the RAISE Act

New York just told the biggest AI labs: if something goes seriously wrong, you don't get to bury it. Under the RAISE Act, large "frontier AI" developers must publish a safety approach and report "critical harm" incidents to the state within 72 hours after determining one occurred. First violations carry civil penalties capped at $1M; later violations, $3M—far below the bill's June penalty structure.

Updated May 15