NYDFS calls for public feedback on proposed crypto regulatory guidance
Adrienne Harris, superintendent of the NYDFS, announced proposals aimed at strengthening regulatory requirements for crypto firms in the state....
- The New York State Department of Financial Services (NYDFS) is seeking public feedback on a proposal to strengthen regulatory requirements for crypto firms operating in the state.
- Superintendent Adrienne Harris has released proposals on guidance for coin-listing and delisting procedures, as well as a framework for designating coins or tokens to the regulator's greenlist.
- The proposal includes recommendations for heightened standards focusing on illicit finance, legal, reputational, market and liquidity, and regulatory risks.
- The NYDFS greenlist currently includes Bitcoin, Ether, and stablecoins issued by Gemini and PayPal.
- The NYDFS has the authority to assess supervisory costs from licensed crypto firms operating in New York.
- Since 2015, crypto firms in New York have been required to apply for a BitLicense through the NYDFS, with eToro being the most recent platform to receive a license in February.
The sentiment of the article is neutral. It provides information about the NYDFS's proposal to strengthen regulatory requirements for crypto firms in New York without expressing a positive or negative opinion.