March 29, 2024

New York financial regulator has presented a list of allowed cryptocurrencies

The New York State Department of Financial Services (NYDFS) has introduced a “green list” of cryptocurrency assets, withwhich licensed companies are allowed to operate without additional permits.

NYDFS is known for its categorical attitude towardscryptocurrency companies, leaving many of them with no choice but to leave New York. However, recently the regulator has noticeably softened its position, and in June announced the simplification of the process of adding new coins to licensed services. The list released this week is part of that vision.

The assets on the list are divided into two categories: those that are allowed to be kept and those that are “approved for listing”.

For storage by licensed companies inNew York by default available Bitcoin, Binance USD (BUSD), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ethereum (ETH), Gemini Dollar (GUSD), Litecoin (LTC), Pax Gold (PAXG), Paxos Standard (PAX) and XRP. The list of coins for listing is shorter. It includes Bitcoin, BUSD, BCH, ETH, GUSD, LTC, PAXG and PAX.

It is noteworthy that ETC is available for storage, but not for listing. Also, XRP is missing from the second list.

Paxos said the addition of the company's assetsthis list recognizes her work to ensure legal compliance. Paxos is regulated by NYDFS and issues stablecoins, including Binance USD.

“Any licensed education canuse coins from the list for their permitted purposes. Please note that if a licensed entity decides to use a coin from the list, it must notify NYDFS before using it, ”the regulator writes.

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