The New York State Department of Financial Services (NYDFS) has approved 8 crypto assets for trading in the state. Updated on the 3rd of August, the published “Greenlist” revealed coins approved for custody and coins approved for listing.
According to the published “Greenlist”, the Department of Financial Services (DFS) announced eight coins approved for listing and trading. They are, Bitcoin (BTC), Binance USD (BUSD), Bitcoin Cash (BCH), Ethereum (ETH), Gemini Dollar (GUSD) and Litecoin (LTC), Pax Gold (PAXG) and Paxos Standard (PAX).
Furthermore, the Department of Financial Services approved 10 coins for custody. These include Binance USD, Bitcoin, Bitcoin Cash, Ethereum (ETH), Ethereum Classic (ETC), Gemini Dollar, Litecoin, Pax Gold, Paxos Standard, and Ripple (XRP).
In addition, NYDFS included a disclaimer that explained the agency’s ability to remove any of the approved coins:
“DFS may, at any time and in its sole discretion, prohibit or otherwise limit a coin’s use before or after a VC Entity begins using a coin; require that any VC Entity delist, halt, or otherwise limit or curtail with respect to any coin; remove and coin from the Greenlist; refrain from placing any coin on the Greenlist, or discontinue the Greenlist process entirely.”
Introduced in 2011, NYDFS was created to take over authorities of the New York State Banking Department and New York State Insurance Department. The main purpose of the agency is to oversee financial products and services in the state.
In November 2019, the NYFDS approved Bitcoin custody for Fidelity Digital Asset Services.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
