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ChainCatcher news, according to FinanceFeeds, the New York State Department of Financial Services (NYDFS) has issued the latest guidelines for licensed cryptocurrency custodians (VCEs). The core requirement of these guidelines is that the custody structure must ensure that the beneficial ownership of digital assets always belongs to the client, especially in the event of the custodian's bankruptcy, and client assets must also be protected. NYDFS stated that this update is in response to the surge in demand for virtual asset custody from institutional and retail clients, as well as the increasingly complex "sub-custody" relationships in the industry. The new guidelines explicitly prohibit custodians from using client assets for rehypothecation or unsecured lending, or other activities that may compromise client ownership, without explicit permission and informed consent. At the same time, stricter due diligence, contractual terms, and disclosure requirements are imposed on custodians using sub-custodians. The guidelines aim to provide greater clarity and confidence for clients and prompt licensed entities to review their custody structures and client agreements. This updated guideline for 2025 is now in effect and replaces the previous version from January 2023.

ChainCatcher news, according to Jinse Finance, the U.S. Supreme Court has refused to allow Trump to immediately remove Federal Reserve Governor Cook. The Supreme Court will hold a hearing on the removal case in January next year.