Fwd: Your Freedom of Information Law (FOIL) Request FOIL-2024-097182-021905 (New York State Department of Financial Services (DFS) investigation of Genesis Global Trading, Inc.)

[Gunnar Larson]

---------- Forwarded message ---------
From: <Joanne.Verdejo at dfs.ny.gov>
Date: Fri, Mar 29, 2024, 12:30 PM
Subject: Your Freedom of Information Law (FOIL) Request
FOIL-2024-097182-021905
To: <G at xny.io>



Good afternoon,

Attached please find correspondence from the NYS Department of Financial
Services, pertaining to your FOIL request.

Thank you.

Tracking Number:FOIL-2024-097182-021905


SENT VIA EMAIL

G at xny.io

March 29, 2024

Gunnar Larson

xNY.io – Bank. Org

406 West 25 Street

New York, NY 10001

Re: FOIL Tracking No. 2024-097182

Dear Gunnar Larson:

I write with respect to your above-referenced FOIL request. The New York
State Department of

Financial Services (DFS) requires additional time to respond to your
request, assigned the

tracking number 2024-097182, because we are still searching for any and all
potentially

responsive records.

DFS intends to provide its determination of your request by May 31, 2024.
We appreciate your

continued patience.

Thank you.

2024-097182: 3/29/24: Dear Madam or Sir: xNY.io - Bank.org seeks access to
any and all records concerning the New York State Department of Financial
Services (DFS) investigation of Genesis Global Trading, Inc. (“Genesis
Global Trading”) leading to seizure of the firm's BitLicense. Additionally,
xNY.io - Bank.org seeks access to records that explain DFS' calculated $8
million penalty to New York State for compliance failures that violated
DFS’s virtual currency and cybersecurity regulations and left the company
vulnerable to illicit activity and cybersecurity threats. xNY.io - Bank.org
notes DFS has recently published other BitLicense penalties of $100M and
$30M. As such, we aim to review accessible records in congruence with
Genesis' $8M penalty. xNY.io - Bank.org seeks records that indicate any
human rights violations part of the compliance failures that violated DFS’s
virtual currency and cybersecurity regulations and left the company
vulnerable to illicit activity and cybersecurity threats. Finally, xNY.io -
Bank.org seeks any and all STX records associated with the Genesis
investigation. The very best, Gunnar Larson
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