What do you think about the growth of the giant and on what exchange do you trade cryptocurrencies?
I try to look on their blog regarding these so called "department in NY" that the OP says.
https://blog.coinbase.com/coinbase-custody-receives-trust-charter-from-the-new-york-department-of-financial-services-532c92797215Today were proud to announce that Coinbase Custody has obtained a license under New York State Banking Law to operate as an independent Qualified Custodian. Coinbase Custody will operate as a Limited Purpose Trust Company chartered by the New York Department of Financial Services (NYDFS).
So they got a license under the New York State regulatory body to be a custodian. Anything that is related to crypto regulations, I consider it a good news and probably one step closer to the adoption that we all wanted. So let's see how it goes because we all know that NY is hostile against crypto but from what I understand they have given some sort of go signal for Coinbase to operate.