New York Department of Financial Services updates crypto listing rules with immediate effect | Headlines | News | CoinMarketCap
09/19/2023 05:03
The New York State Department of Financial Services (NYDFS) outlined new requirements for virtual currency business entities in the state on Sept. 18.
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Published on September 18, 2023 21:50 GMT+00:00edited on September 18, 2023 21:54 GMT+00:00
The New York State Department of Financial Services (NYDFS) outlined new requirements for virtual currency business entities in the state on Sept. 18.
According to the Wall Street Journal, the new rules focus largely on cryptocurrency delistings. NYDFS Superintendent Adrienne Harris told the news organization:
“When we know that a coin that someone once thought was OK [is not], [and] when we see that new risks have emerged or the coin is being misused, we want our entities to have a way to delist the coin in a way that’s still protective of consumers and protects safety and soundness as well.”
The NYDFS’ own announcement indicates that the proposed rules expand upon the original guidance first published in 2020. Those rules provide a framework through which crypto firms can create …