The head of the New York Department of Financial Services advises crypto companies to actively respond to regulation and communicate publicly in a timely manner

Odaily News Adrienne Harris, head of the New York Department of Financial Services (NYDFS), said at the Ripple Swell conference that cryptocurrency companies should be frank and proactive when dealing with regulators as a best practice. She emphasized that regulators do not like surprises and expect open communication with companies and their legal representatives. Therefore, companies should keep regulators informed of their actions instead of letting them suddenly know about industry issues from the news to avoid being in a reactive situation. Citing New York's progressive view of cryptocurrency (relative to U.S. federal regulations), Harris said that cryptocurrency companies should "come in and talk to us about your five-year corporate plan." (Cointelegraph)