The New York State Department of Financial Services (NYDFS) is strengthening its guidelines for listing or de-listing cryptocurrencies . The updated guidelines will require crypto companies to submit their coin listing and delisting policies for NYDFS approval before they can list a coin.
The release of the latest guidance comes after NYDFS issued the draft for public comment in September.
A coin-listing policy must include robust procedures and must be tailored to the crypto firm's specific business model, operations, customers and counterparties, geographies of operation and service providers, according to the guidance. The policies must cover governance, risk assessment and monitoring of coins.
The new guideline also require that in the event a listed coin is identified as presenting newly elevated risk, crypto firms must discontinue support of that coin.
Policy and Regulation
