The New York State Department of Financial Services (NYDFS) plans to implement higher standards for the listing and delisting of digital assets on trading platforms.
As reported by the Wall Street Journal, the regulator has introduced new guidelines intended to help firms develop coin offering policies.
Adrienne Harris, superintendent of the NYDFS, has said the document is needed to establish robust rules for platforms to protect investors. The need to update the document has arisen from deficiencies discovered during recent audits of unidentified organizations.
According to her:
"When we know that a coin that someone once thought was OK, 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."
As part of the new rules, the NYDFS requires crypto organizations registered in the state to implement new token listing and delisting policies.
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