The NYDFS has announced stricter guidelines for listing and delisting cryptocurrencies in New York in order to safeguard investors.
Under these new regulations, cryptocurrency companies must obtain NYDFS approval for their listing and delisting policies.
The NYDFS will assess these policies against more stringent risk assessment standards in order to protect investors.
Factors such as technological, operational, cybersecurity, market, liquidity, and illicit activity risks of the tokens will be considered.
These changes will apply to all digital currency businesses licensed under the New York Codes, Rules and Regulation, as well as limited purpose trust companies under the state’s Banking Law.
The NYDFS initially sought public feedback on these regulations in September.