NYDFS calls for public feedback on proposed crypto regulatory guidance


18 Sep 2023 3:49 PM

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.

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You May Ask

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