The New York Department of Financial Services (NYDFS) has announced new rules regarding the listing of cryptocurrencies on its green list. As part of the announcement, NYDFS revealed that it would be delisting three tokens: DOGE, LTC, and XRP.
The green list, which includes cryptocurrencies approved for listing, custody, or both, has been updated to reflect the new guidelines. The revised green list will include eight tokens: Bitcoin, Ethereum, GUSD, the new PayPal token (PYUSD), GYEN, ZUSD, PAXG, and USDP.
Under the previous framework, licensed digital firms could gain custodial approval and list their tokens on the green list by self-certifying a specific token for either listing or custody. However, the new guidelines indicate a shift in NYDFS’s approach to token listing and delisting.
The NYDFS has played a strict supervisory role in the cryptocurrency industry, and this move follows a $100 million settlement imposed on Coinbase earlier this year for noncompliance. The department has also taken action against other cryptocurrency firms, such as stopping Paxos from issuing the BUSD stablecoin alongside Binance.
In addition to the changes in token listing, the NYDFS is calling for public feedback on its new regulatory requirements for cryptocurrency firms in the United States. These new requirements focus on liquidity, legal and regulatory risks, reputation, and market considerations.
The NYDFS has positioned itself as a leading regulator in the cryptocurrency space, and these latest developments underscore its commitment to maintaining a strong regulatory stance in the rapidly evolving digital asset industry.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}