XRP Attorney Lays out Ripple’s Removal From NY Greenlist
John Deaton, the legal counsel for over 75,000 XRP token holders in the Ripple vs. SEC litigation, discussed New York...
- John Deaton, legal counsel for over 75,000 XRP token holders in the Ripple vs. SEC litigation, discusses New York developments.
- The New York Department of Financial Services (DFS) has removed Ripple and Dogecoin from its list of approved cryptocurrencies, known as the "greenlist."
- Bitcoin, Ethereum, and the PayPal Dollar remain on the greenlist.
- The DFS has established itself as a pioneering force in digital asset regulation through initiatives like the BitLicense program and the virtual currency unit.
- The DFS updated its virtual currency oversight framework, introducing new criteria for incorporating crypto assets and removing 25 assets from the greenlist.
- XRP, DOGE, LTC, and other cryptocurrencies are no longer permitted.
- The NYDFS has earned respect from the crypto industry in the US despite its stringent approach.
- The DFS intends to expand its greenlist, which currently consists of eight tokens.
- USDC, the second-largest stablecoin, was absent from the previous and updated greenlists, suggesting it may be subject to NYDFS scrutiny.
- John Deaton alludes to an upcoming announcement, raising concerns about its potential connection to the ongoing XRP lawsuit.
The sentiment of the article is mostly neutral, with a slight negative sentiment towards the actions of the New York Department of Financial Services (DFS) in removing certain cryptocurrencies from its greenlist.