The New York State Department of Financial Services (NYDFS) has instituted a new draft General Framework for Greenlisted Coins. This roadmap for approval of new coin listings shows how the draft guidance issued by NYDFS on Sept. 18 fits into the entire NYDFS process. Public comments are due by Oct. 20, 2023, and should be sent to [email protected] with “Proposed Coin-Listing Policy Framework” in the subject line. A few observations:
- The listing process provides no certainty that any coin can continue to be listed in New York nor any precise temporal parameters for approval and de-listing events. Liquidity and volume will suffer for NYDFS-regulated entities until due process safeguards are in place protecting against NYDFS delisting actions.
