New York’s Department of Financial Services (NYDFS) has issued new framework guidance for cryptocurrency firms operating in the state. The guidance requires regulated crypto companies to submit a firm-specific coin listing policy and seek approval from the regulator before listing or offering custody for a coin, unless it is already on the regulator’s pre-approved “greenlist”. The move is aimed at increasing transparency and ensuring proper due diligence by crypto companies, according to NYDFS. This framework guidance was first introduced in 2020.
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