Planning to list (or delist) a token? NYDFS has some new guidelines for you

The NYDFS, following a September comment period, has rolled out new crypto guidance

article-image

NYDFS Superintendent Adrienne Harris | lev radin/Shutterstock modified by Blockworks

share

The New York State Department of Financial Services issued new listing guidance on cryptocurrencies Wednesday. 

The guidance comes after a feedback period that began back in September. 

According to feedback the NYDFS received, guidance ensures higher risk assessment standards for coin listing policies while also enhancing previous requirements for consumer-facing firms.

As first mentioned in September, the NYDFS requires companies to put forth a coin delisting policy that is “compliant with this guidance to ensure that, in the event a coin must be delisted, it can be done in an orderly way that protects consumers and minimizes market disruption.”

The DFS received extensive feedback that retail consumers needed more protections —  including that cryptocurrencies which “​​exhibit certain characteristics impermissible for self-certification for any virtual currency business activity available to retail consumers.”

Tailored risk assessments were mentioned by those surveyed so that crypto firms could have specific assessments relevant to their businesses due to the already strict assessment standards enforced by the DFS.

Specifically in regards to coin delisting policies, some of the commentators raised concerns about giving advance notifications around delistings, which they claim may not always be possible. 

To combat those concerns, the updated guidance, “provides limited exceptions to advance notification requirements based on exigent circumstances.”

Those who weighed in also asked for clearer definitions, with which the DFS says it complied.

With the updated guidance, crypto companies will put forth both a coin listing and delisting policy to receive approval from the department.

In September, when the coin delisting policy was first announced, the DFS said that the policy “must include robust procedures that comprehensively address all steps involved in removing support for a coin.”

It 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.”

“This guidance continues the Department’s commitment to an innovative and data-driven approach to virtual currency oversight, keeping pace with industry developments,” said Superintendent Adrienne Harris.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens