{"id":597848,"date":"2023-11-16T06:26:48","date_gmt":"2023-11-16T03:26:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-york-finance-regulator-tightens-crypto-listing-guidance\/"},"modified":"2023-11-16T06:26:48","modified_gmt":"2023-11-16T03:26:48","slug":"new-york-finance-regulator-tightens-crypto-listing-guidance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-york-finance-regulator-tightens-crypto-listing-guidance\/","title":{"rendered":"# New York finance regulator tightens crypto listing guidance"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-11\/8d9bee29-3d77-4ee8-9ad2-95d3c8315318.jpg\" \/><\/p>\n<p itemprop=\"description\" class=\"post__lead\" data-v-8081b7b6> Crypto firms\u2019 policies on coin listing and delisting must align with a list of standards set by the NYDFS. <\/p>\n<p><\/p>\n<div class=\"post-content\" data-v-8081b7b6>Guidelines for firms listing and delisting cryptocurrencies in New York have tightened up to better protect investors, according to the state\u2019s financial regulator.<\/p>\n<p>The New York State Department of Financial Services (NYDFS) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dfs.ny.gov\/industry_guidance\/industry_letters\/il20231115_listing_virtual_currencies\">unveiled<\/a> new restrictions on Nov. 15 which mandate crypto companies submit their coin listing and delisting policies for NYDFS <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval.<\/p>\n<p>Company policies will be measured against more stringent risk assessment standards set forth by the NYDFS to protect investors. Technological, operational, cybersecurity, market, liquidity and illicit activity risks of the tokens are among the factors to be considered by the NYDFS.<\/p>\n<p>The incoming changes apply to all digital currency business entities licensed under the New York Codes, Rules and Regulation or limited purpose trust companies under the state\u2019s Banking Law. The NYDFS initially called for public feedback on the proposal in September.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">NEW: DFS Superintendent Adrienne A. Harris Adopts New Regulatory Guidance Regarding the Listing of Virtual Currencies<\/p>\n<p>More here: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/F2eyZKzucG\">https:\/\/t.co\/F2eyZKzucG<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/p5kfXfUVnO\">pic.twitter.com\/p5kfXfUVnO<\/a><\/p>\n<p>\u2014 NYDFS (@NYDFS) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NYDFS\/status\/1724830118432903263?ref_src=twsrc%5Etfw\">November 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Cryptocurrency firms with a previously approved coin listing policy are not permitted to self-certify any tokens until they submit to and receive approval from the NYDFS. <\/p>\n<p>Among the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dfs.ny.gov\/virtual_currency_businesses\">firms<\/a> that must comply with the new rules are stablecoin issuer Circle, crypto exchange Gemini, fund manager Fidelity, trading house Robinhood and payments giant PayPal. <\/p>\n<p>All affected firms must meet with the NYDFS by Dec. 8, 2023, to preview their draft coin listing and delisting policies and submit them by Jan. 31, 2024.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>New York MoMA now has tokenized artworks in its permanent collection<\/em><\/strong><strong><em> <\/em><\/strong><\/p>\n<p>Superintendent of Financial Services Adrienne A. Harris said the financial regulator would implement an \u201cinnovative and data-driven approach\u201d to oversee coin listings, delistings and the cryptocurrency market more broadly.<\/p>\n<p>Harris stressed the new rule isn\u2019t part of a state-wide crackdown on the cryptocurrency industry:<\/p>\n<blockquote><p>\u201c[We want] to ensure that New Yorkers have a well-regulated way to access the virtual currency marketplace and that New York remains at the center of technological innovation and forward-looking regulation.\u201d<\/p><\/blockquote>\n<p>In February, NYDFS said it broadened its ability to identify cryptocurrency-related illicit activities, such as insider trading and market manipulation.<\/p>\n<p>About 690 blockchain-based companies are based in New York, while 19% of New Yorkers own cryptocurrency, according to an August report by Coinbase.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>NY sues crypto firms, FTX\u2019s Nishad faces 75 years in jail, and Grayscale\u2019s new BTC filing: Hodler\u2019s Digest, Oct. 15-21<\/em><\/strong>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/cointelegraph.com\/news\/nydfs-tightens-crypto-listing-delisting-guidance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto firms\u2019 policies on coin listing and delisting must align with a list of standards set by the NYDFS. Guidelines for firms listing and delisting cryptocurrencies in New York have tightened up to better protect investors, according to the state\u2019s financial regulator. The New York State Department of Financial Services (NYDFS) unveiled new restrictions on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":597849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-11\/8d9bee29-3d77-4ee8-9ad2-95d3c8315318.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75936,75238,74864,76574,86706,3885,70934],"class_list":["post-597848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-circle","tag-financial-services","tag-gemini","tag-paypal","tag-robinhood","tag-new-york","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/597848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=597848"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/597848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/597849"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=597848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=597848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=597848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}