To submit an application, please follow the instructions on the NY Virtual Currency Business Activity License New Application Checklist (the “BitLicense Application Checklist”). You can view the BitLicense Application Checklist any time, even before you have an NMLS account. The BitLicense Application Checklist is a critically important guide for anyone considering applying for a BitLicense.

Kaiser Services

While these forms of authorization are similar, a New York State limited purpose trust company charter may provide some additional benefits. For example, a limited purpose trust company can exercise fiduciary powers, while a BitLicensee cannot. In addition, a limited purpose trust company can engage in money transmission in New York without obtaining a separate New York money transmitter license.

• On-demand specialist capabilities can help you build on strengths and respond to your specific risk, assurance and internal controls needs.
• NOW CFO consultants can set up Internal Controls to help mitigate these problems, and save you money and time in the process.
• As a global leader in assurance, tax, transaction and advisory services, we hire and develop the most passionate people in their field to help build a better working world.
• PwC’s digitally enabled solution supports the end to end controls lifecycle.
• International commerce is no longer the sole privilege of large multinational companies.
• In addition, our Total Rewards package includes medical and dental coverage, pension and 401(k) plans, and a wide range of paid time off options.

Virtual Currency Business Activity (BitLicense)

She helps both public and private financial institutions ready themselves for and comply with SOX/404 and FDICIA reporting requirements and provides ongoing consultative advice to clients to continuously improve their programs. Whether it be establishing internal controls for public reporting or private safeguarding, our professionals have years of experience with Sarbanes-Oxley Section 404 audits and can assist your company in establishing procedures for your internal control structure. Our expert consultants have extensive experience and training to assist in identifying opportunities and implementing internal controls for your company. This includes protection from fraudulent activities, operational inefficiencies, and lack of adherence to company policies. All of these things can lead to lower profits, lost time and lowered efficiency and confidence in your company. So it’s important to address these issues head on, with the proper expertise and experience.

From technical and operational accounting to enhanced reporting, analytics, and enterprise resource planning (ERP), we can support your finance transformation. The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the BitLicense. Through NMLS, companies maintain a single record to apply for, amend, surrender and change license authorities in one or more states, and make reports conveniently and safely online. Questions regarding virtual currency business activity in New York State may be referred to DFS at email protected and should include your full contact information.

• NOW CFO is a “roll-up our sleeves” full service consulting firm with a singular focus on outsourced CFO, Controller, accounting, and finance needs.
• When this is approved, you will be able to access this application in the My Apps menu.
• Certain services may not be available to attest clients under the rules and regulations of public accounting.
• RSM’s 2024 guide details the multifaceted ecosystem of ESG and sustainability.
• The entities falling under the BerryDunn brand are independently owned and neither entity is liable for the services provided by the other entity.

Algorithms, AI, and cognitive computing bring new and potentially sizable risks. Internal audit is a critical function of a growing business that helps reduce risk in key business functions and uncovers opportunities to find hidden value in managing risk. But many middle market organizations find it challenging to build or sustain a high-performing internal audit function because of competition for top talent, the need for diverse skill sets as the risk landscape evolves, rising compensation, benefits costs or other factors. Wipfli’s experienced team can help you gain new insights into your organization’s daily risks and the controls you need to manage them.

Your go-To Internal Audit Checklist on Diversity, Equity, Inclusion and Belonging

Move brings deep analytic approach to operationsCHICAGO – January 14, 2025 – Sikich, a Chicago-based leading global technology-enabled profes… Bryan Lake, director of expatriate tax services and international tax compliance and consulting at Sikich, spoke with WTOP News (DC) to provide tips … NOW CFO consultants can set up Internal Controls to help mitigate these problems, and save you money and time in the process. Our company presents many challenges in work and degree in scope and deliverables. The internal controls consulting Kaiser team dedicates itself to providing a professional work product that is complete and accurate, while efficiently utilizing staff resources.

Services

Your organization gains additional and ongoing strategic advisory to supplement internal audit project support. We can help you deliver assurance and advise on critical business issues, anticipating risks. With a full range of outsourcing, co-sourcing, and technology and data analytics services we help you deliver assurance and advise on critical business issues, anticipating risks. Our people take a trustworthy, holistic approach, assisting you with compliance and assurance, advising on critical business issues, and applying creative, innovative thinking to help you better navigate risks and opportunities. Traditional control monitoring and testing approaches don’t always operate in the here and now, often missing dormant control issues that can surface several months down the line.

When you first log in, click on Ask for Apps to request access to the Virtual Self-Certification application, for the company(ies) you will be filing for. When this is approved, you will be able to access this application in the My Apps menu. Prospective applicants who have questions about the application process can send their questions to the DFS Virtual Currency Unit staff, at email protected. If it appears that an applicant would benefit from a more interactive dialogue, DFS staff may recommend a pre-application call or meeting (virtual or in person), at the appropriate time.

Data Analytics & Visualization

Whatever the state of your current internal audit function, RSM advisors add value to your organization and support your key business objectives. Whether you are looking for fully outsourced internal audit services, a co-sourcing arrangement or a managed services approach, our internal audit team will build solutions that make sense for your business. Our internal audit modernization solution enables an agile, digitally led end-to-end internal audit lifecycle that harnesses upskilled talent, data, automation and collaboration across other lines to provide valuable risk and control assurance and insights to the business. Automation can improve your internal control structure and reduce your organization’s risk of control failure.

Once DFS approves such a policy and the entity seeks to self-certify a coin for listing or custody, it must submit a self-certification form. Please also note that, in the process of considering an application, DFS may request additional information and supporting documents, beyond those found in the BitLicense Application Checklist. Each company holding a BitLicense that wishes to manage its license on NMLS must create a company record in the system (see above). Current New York State BitLicensees whose applications were submitted before the integration of the BitLicense into NMLS may transition their licenses to NMLS.

We can help your organization modernize and automate internal controls to help you truly understand the state of your business, drive insights, identify weaknesses, spot trends, and change behavior. Do you feel your organization is losing ground due to its financial controls? Are your internal controls becoming disconnected with other areas of your business?