- In conjunction with its proposed guidance, DFS has significantly trimmed “Greenlisted” coins.
- It has cut the list to Bitcoin, Ethereum, and several stablecoins.
- Until recently it had Greenlisted approximately two dozen coins.
- These changes are part of the Department’s initiative seeking to strengthen DFS oversight of virtual currencies, which include new guidance coin listing and delisting policies.
- According to DFS the new guidance:
- heightens risk assessment standards for coin-listing policies and tailors enhanced requirements for retail consumer-facing businesses;
- requires licensees to develop and submit to DFS for approval a coin-delisting policy that is compliant with this proposed guidance; and
- as noted above, updates the DFS Greenlist, the list of coins and tokens approved for all licensees to list or custody, and Greenlist process.
The public comment period closes October 20, 2023.