New York Regulator Greenlights 10 Tokens for Custody
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Aug. 10, 2020
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The New York State Department of Financial Services has just approved 10 new tokens for custody as well as 8 for sale and trade.

According to an update published on August 3 by the New York State Department of Financial Services (NYDFS), it has just approved 8 crypts for sale and trade:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Binance USD (BUSD)
  • Gemini Dollar (GUSD)
  • Pax Gold (PAXG)
  • Paxos Standard Token (PAX)

In addition, the financial regulator has also approved the custody of all these currencies as well as of XRP and Ethereum Classic (ETC) in spite of the fact that the latter has recently hit headlines after suffering several 51% attacks in few weeks.

According to the regulator:

"Any entity licensed by DFS to conduct virtual currency business activity in New York may use coins on the Greenlist for their approved purpose."

However, it should be noted any licensed company must inform the regulator if it decides to use any of the currencies included in the green list.

In June it was known the New York financial regulator had proposed relaxing the requirements for obtaining the BitLicense, the license all crypto-related companies interested in legally offering their services in the state must obtain.

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