NYDFS seeks public feedback on new crypto listing guidelines

The New York Department of Financial Services provided the update Monday


Pe3k/Shutterstock modified by Blockworks


The New York State Department of Financial Services updated its cryptocurrency listing guidance on Monday. 

The regulator is seeking public feedback on its updated guidance, which includes tightened risk assessment standards and additional requirements to its coin-delisting policies.

“This coin-delisting policy must include robust procedures that comprehensively address all steps involved in removing support for a coin” and requires the company to tailor the policy to its “specific business model, operations, customers and counterparties, geographies of operations, and service providers; and to the use, purpose, and specific features of coins being considered.”

The requirement is tied to the NYDFS note that it, at “any time and in its sole discretion, requires VC Entities to delist or otherwise limit New Yorkers’ access to coins that are not included on the Greenlist.”

The greenlist is a DFS-controlled list of cryptocurrencies that can be listed by companies without prior DFS approval. As part of the update, however, crypto companies need to seek approval from the DFS on their delisting policies prior to listing any coins on the greenlist.

The list includes bitcoin (BTC), ether (ETH), gemini dollars (GUSD) and the PayPal dollar. 

Read more: PayPal launches stablecoin tied to the US dollar, issued on Ethereum

The NYDFS said it will consider coins that have “a demonstrated, historic record consistent with safety and soundness and the protection of customers, including broad marketplace adoption.” It will also include stablecoins approved by the Department by the Department “for issuance in New York” by a crypto company.

Additionally, NYDFS is heightening its risk-assessment standards, which require crypto companies to perform due diligence on coins based on governance, usage, and issuance. 

The DFS first issued regulatory on cryptocurrencies in 2015, and created the state-based licensure program popularly known as the BitLicense. The agency published guidance on the listing and adoption of cryptocurrencies in 2020.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

MON - WED, MARCH 18 - 20, 2024

Digital Asset Summit (DAS) is returning March 2024. What you can expect: And more! Don’t miss out on the opportunity to be in the room when the future of crypto is decided. Join us and help shape the future of our […]

recent research

Research report - cover graphics-2.jpg


Base has doubled-down on its commitment to the Superchain vision, has shown early signs of success with nearly $400M in TVL, and has become home to novel dapps such as friend.tech which has seen significant traction.


Blockchain is a “natural fit” in games based on open economies and user-generated content, says Wyatt


Their current stance is a half-baked attempt that could stifle innovation and burden an emerging industry


Maker’s DeFi-focused “subDAO” passed a proposal activating a lending market for DAI on the Gnosis Chain


Certain creditors could be repaid sooner, with one hedge fund exec telling Blockworks it expects a payout by the end of the year


Busan is South Korea’s second largest city with a population around 3.4 million


Cyprus granted eToro crypto registration, setting the groundwork for the company to operate crypto services post-MiCa rollout