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ARTICLE · 02 OCTOBER 2023

NYDFS Proposes Updates To Guidance For Listing And Delisting Digital Assets

Perkins Coie LLP
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The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets.

United StatesTechnology
Andrew Lucas
Andrew Lucas
Donald J. Mills
Donald J. Mills

What Happened?

The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced significant changes to the Department's "Greenlist" of vetted digital assets.

This industry development affects companies that have received permission to engage in virtual currency business activity from the NYDFS, either through a "bitlicense" or a limited purpose trust charter.

In June 2020, the Department issued guidance that permitted digital asset businesses to self-certify digital assets subject to a Department-approved coin-listing policy. It also created a Greenlist of digital assets which all regulated businesses could offer subject to that guidance.

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