New York Regulator Speeds Up 10 Cryptocurrencies
New York regulator speeds up 10 cryptocurrencies. The Bitlicense regulator, the New York State Department of Financial Services (DFS), has released a Greenlist consisting of 10 for custody cryptocurrencies and eight for listing cryptocurrencies. “Any licensed entity may use coins on the Greenlist for their approved purpose(s),” explained the regulator.
The 10 cryptocurrencies are binance USD (BUSD), bitcoin (BTC), bitcoin cash (BCH), ethereum classic (ETC), ethereum (ETH), gemini dollar (GUSD), litecoin (LTC), pax gold (PAXG), paxos standard (PAX), and ripple (XRP).
The same cryptocurrencies are pre-approved for listing, except for ETC and XRP. “If a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use,” the regulator noted.
Crypto companies can create a “coin-listing or adoption policy” tailored to their specific business model and risk profile. If approved by the DFS, the company would be able to “self-certify the listing or adoption of new coins in addition to those on the Greenlist, without any further approval from DFS.”
The DFS will maintain an updated list of all cryptocurrencies permitted for crypto companies’ business activities without its prior approval, “as long as such listed coins had not been subject to any material modification, division, or change after their listing on the DFS webpage (the ‘Greenlist’),” the regulator emphasized.
[image: Matteo Catanese]