State of New York Greenlights 10 Cryptocurrencies for Bank Custody and Listing
The New York State Department of Financial Services (DFS) has approved 10 cryptocurrencies for custody services and listing by banks. New York Regulator’s Cryptocurrency Greenlist The DFS has greenlisted the following 10 cryptocurrencies for custody: Binance USD (BUSD), bitcoin (BTC), Bitcoin Cash […]
The New York State Department of Financial Services (DFS) has approved 10 cryptocurrencies for custody services and listing by banks.
New York Regulator’s Cryptocurrency Greenlist
The DFS has greenlisted the following 10 cryptocurrencies for custody: Binance USD (BUSD), bitcoin (BTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ethereum (ETH), Gemini dollar (GUSD), Litecoin (LTC), Pax gold (PAXG), Paxos standard (PAX), and Ripple (XRP). The list was updated on August 3. Additionally, the above-mentioned cryptocurrencies were also pre-approved for listing, except for ETC and XRP.
“Any entity licensed by DFS to conduct virtual currency business activity in New York may use coins on the Greenlist for their approved purpose(s). Note that if a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use.”
The DFS further stated that it will keep an updated list of all cryptocurrencies allowed for the trading activities of crypto companies without its earlier permission, “as long as such listed coins had not been subject to any material modification, division, or change after their listing on the DFS webpage,” the regulator stressed.
Prasanna Peshkar
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