The New York State Department of Financial Services (NYDFS), the state's financial regulator, yesterday issued new guidelines applicable to the listing and delisting of cryptocurrencies on platforms operating in New York.
The restrictions, which aim to provide greater protection for investors, require cryptocurrency companies to submit their cryptocurrency listing and delisting policies for approval by the NYDFS.
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Factors that the regulator will take into account include technological, operational, cybersecurity, market, liquidity and illicit activity risks of tokens.
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According to the regulator, cryptocurrency companies that do not have NYDFS-approved coin listing policies will only be able to list tokens on their "green list" unless otherwise approved.