NY-DFS Proposed Guidance on Character and Fitness (Extension Appeal)

[Gunnar Larson]

Ms. Scott:

Additionally, xNY.io - Bank.org respectfully submits Coinbase's Brian
Armstrong on Bloomberg.com:
https://www.bloomberg.com/news/videos/2023-01-12/the-david-rubenstein-show-coinbase-s-brian-armstrong
as
a matter for public  comment for NY-DFS' "Proposed Guidance on Character
and Fitness."

The Bloomberg interview with Coinbase showed top journalistic integrity,
yet, Coinbase failed to mention any NY-DFS investigation or pending action.
The interview aired last December, before the 100M Coinbase settlement was
announced by NY-DFS concerning Coinbase's BitLicense compliance.

NY-DFS' approach to Coinbase and Goldman Sachs (who took Coinbase public)
share independent insider trading scenarios that could disrespect the
United States Department of Justice, Criminal Division, Fraud Section and
Money Laundering and Asset Recovery Section compliance programs.

We have collated 34 highlights that describe a corporate opportunity policy
framework to gauge character and fitness of the "first Bitcoin loan" backed
by a New York banking institution here:
https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r-m8N21_1Sp/view?usp=drivesdk
.

Per point one of NY-DFS' "Suggested Questions to Facilitate Initial and
Ongoing Assessment of Designated Persons’ Character and Fitness," can you
kindly acknowledge that you have reviewed and understand our appeal seeking
extension for public comment to August 5, 2023?

We feel extra time for public comment is warranted to ensure that xNY.io -
Bank.org did not play a significant role or otherwise contribute in a
meaningful way to the conduct that led to regulatory action or proceeding
without ample notice.

Thank you,

Gunnar

On Wed, Jun 28, 2023, 12:04 AM Gunnar Larson <g at xny.io> wrote:

> Ms. Scott:
>
> NY-DFS recently asked for public comment concerning "Proposed Guidance on
> Assessment of the Character and Fitness of Directors, Senior Officers, and
> Managers" mentioned here:
> https://www.dfs.ny.gov/industry_guidance/industry_letters/il20230509_guidance_assessment_fitness
> .
>
> xNY.io - Bank.org asks if the NY-DFS will extend deadline for public
> comment to August 5, 2023 from June 30, 2023.
>
> As requested by NY-DFS, today we provide (in a separate attachment)
> evidence of any documented exceptions to compliance with the "Suggested
> Questions to Facilitate Initial and Ongoing Assessment of Designated
> Persons’ Character and Fitness."
>
> We have collated 19 references comprising 205 highlights that touch on the
> five key areas below:
> https://drive.google.com/drive/folders/1FTRRFFhQHDxf-oR9WOZz0a2gRtC9ZWVO.
>
> -Harassment and Discrimination Policies
>
> -Conflict of Interest Policy
>
> -Insider Trading Policy
>
> -Records Management Policy
>
> -Corporate Opportunity Policy
>
> xNY.io - Bank.org is seeking NY-DFS' extension for public comment to
> August 5, 2023 so that the New York Banking community has time to complete
> Q2-23 earnings call disclosures.
>
> As documented in the above 19 references, we feel extra time for public
> comment is warranted to ensure that xNY.io - Bank.org did not play a
> significant role or otherwise contribute in a meaningful way to the conduct
> that led to regulatory action or proceeding without ample notice.
>
> Per point one of NY-DFS' "Suggested Questions to Facilitate Initial and
> Ongoing Assessment of Designated Persons’ Character and Fitness," can you
> kindly acknowledge that you have reviewed and understand our appeal seeking
> extension for public comment to August 5, 2023?
>
> We hope to hear from you before June 30, 2023 given obvious factors.
>
> Sending you the very best regards.
>
> Thank you,
>
> Gunnar
>
> --
> Gunnar Larson
> xNY.io | Bank.org
> MSc - Digital Currency
> MBA - Entrepreneurship and Innovation (ip)
>
> G at xNY.io
> +1-917-580-8053
> New York, New York 10001
>
>
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