Virtual Currency Policy Development

The Department is responsible for the licensing and supervision of virtual currency entities operating in New York State. The Department reviews, processes, and issues BitLicenses and Limited Purpose Trust Charters, performs ongoing monitoring, and conducts examinations.

This procurement is being undertaken in accordance with New York State Finance Law, Article XI. The Contractor selected will provide all necessary services stipulated in this RFP.

The Proposal submitted by Bidders shall set forth the Bidder’s ability to meet these requirements:

1. Create a policy guidance intake tracker and prioritization process for the virtual currency unit
1. Interview senior leadership to determine policy goals for virtual currency
2. Assist unit in bringing three in-process policy guidance initiatives to completion
3. Propose up to six, but at least 3 new policy guidance initiatives
1. Review virtual currency applications and supervisory information to identify opportunities for policy guidance and clarification for applicants and licensed entities
2. Perform an overall landscape assessment of existing virtual currency policy guidance from other entities, such as other regulators, academics and trade groups.
4. Develop up to six, but at least 3 comprehensive plans to draft, review, and implement new policy guidance documents

Qualifications of Bidders and any other performance requirements are included within this RFP.

Questions from Bidders are due by Tuesday, May 9, 2023 by 3:00pm eastern time. Please note that questions should be submitted by email only. No phone calls will be returned.

Answers to questions will be posted by the Department no later than Tuesday, May 16, 2023.

RFP C000540 is available here or to download via the Department's web page at:

https://www.dfs.ny.gov/contact_us/procurement